Latest news with #Alipay+
Yahoo
4 days ago
- Business
- Yahoo
Ant International launches new AI platform for fintech sector
Ant International has introduced the new AI platform, Alipay+ GenAI Cockpit, to enhance financial services for fintech companies and super apps. This AI-as-a-Service (AIaaS) platform is designed to facilitate the development of AI-driven financial services. The Alipay+ GenAI Cockpit is intended to assist businesses in creating AI-native financial services by integrating automated workflows and task orchestration across various fintech operations. These include payment orchestration, customer onboarding, compliance checks, fraud detection, and dispute resolution. The platform has been developed based on Ant International's core business units, including Alipay+, Antom, WorldFirst, and global treasury management services. Following successful trials, the platform is set to be deployed by its first external clients in Southeast Asia and South Asia in June this year. The Alipay+ GenAI Cockpit utilises more than 20 leading large language models (LLMs) and incorporates fintech-specific knowledge bases to enhance the precision of AI agents. The platform also includes Antom Copilot, an AI agent designed to assist merchants in optimising payment integration and managing risk strategies through natural language processing. Additionally, the Cockpit features a variety of pre-built agents for tasks such as customer service and marketing content curation, while allowing for customisation to meet specific business needs. The platform supports deployment across public clouds and on-premise environments. Ant International chief innovation officer Jiangming Yang said: 'The future of finance will be shaped by agentic AI that not only carry out tasks autonomously in real automated workflows and sophisticated financial business and compliance context with reliability, but also interact, evolve and learn rapidly in orchestration with ever-growing precision.' The company has noted a significant rise in AI-related scams, with 22% of businesses reporting incidents of AI-generated payment fraud. To address these risks, Ant International has implemented its AI SHIELD framework, which provides real-time risk assessments and employs over 100 recognition models to detect potential threats. In July 2024, BNP Paribas and Ant International partnered to improve cross-border payment solutions for European merchants and consumers. "Ant International launches new AI platform for fintech sector" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
20-05-2025
- Business
- Yahoo
Ant Group Global Unit Brings in $3 Billion Ahead of Spinoff
(Bloomberg) -- Jack Ma-backed Ant Group Co.'s international division generated nearly $3 billion in revenue for 2024, according to people familiar with the matter, setting the stage for a spinoff after the unit set up its own board last year. America, 'Nation of Porches' Maryland's Credit Rating Gets Downgraded as Governor Blames Trump NJ Transit Train Engineers Strike, Disrupting Travel to NYC NYC Commuters Brace for Chaos as NJ Transit Strike Looms Illinois Cuts Revenue Outlook on Economic, Federal-Funding Woes Ant International, which is headquartered in Singapore, has also produced two consecutive years of adjusted profit, the people said, requesting not to be named because the information isn't public. It isn't clear how the company calculates its adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, but the metric typically strips out non-recurring costs, restructuring charges and other items. The group as a whole grew profits by 61% in 2024 to 38.3 billion yuan ($5.3 billion), according to Bloomberg calculations based on filings from its affiliate Alibaba Group Holding Ltd. Its latest revenue was not disclosed. Hangzhou-based Ant owns Alipay, a widely used digital payments app and financial services provider in China. Ant Group didn't immediately respond to an emailed request for comment. Ant International has been making inroads into Southeast Asia and expanding its business scope. It's been a key unit for Ant Group, which has been trying to bolster revenue growth by investing heavily into artificial intelligence and overseas. Ant International's IPO Valuation May Be $8-$24 Billion: React The global unit could fetch an initial public offering valuation of anywhere between $8 billion to $24 billion if it were to list in Hong Kong, Bloomberg Intelligence analysts Francis Chan and Sharnie Wong said in a note earlier this month. They based that on the assumption that Ant International's profit share is 20% of the entire group, which is estimated to be worth $40 billion to $119 billion. The international arm initially catered to Chinese tourists traveling outside the country by enabling them to use Alipay to make payments abroad. That service has since expanded into a backbone for cross-border payments known as Alipay+ that can be used by other digital wallets. For example, when customers of GCash from the Philippines travel to South Korea, they can make payments with their regular app when they see the Alipay+ logo displayed at merchants. Alipay+ currently connects 1.7 billion user accounts across 36 digital wallets. Ant International has three other core businesses: Antom offers payment solutions for merchants, WorldFirst enables cross-border trade payment, and Embedded Finance has an AI-powered digital lending service and helps clients with treasury and foreign exchange management. The unit is overseen by Chairman Eric Jing, who is also chairman of Ant Group. Yang Peng is the CEO of Ant International. Ant Group has made changes to its overall business strategy since Chinese regulators forced it to scrap its blockbuster initial public offering in 2020. In 2023, the company proposed buying back as much as 7.6% of its shares under a repurchase plan that took Ant's valuation down to about $79 billion at the time — well off its peak of $280 billion prior to its aborted listing. Ant overhauled its structure last year and set up independent boards for three of its units including the international division, OceanBase, and Ant Digital Technologies. The overall group would explore going public in Hong Kong first instead of a dual Shanghai-Hong Kong listing like what it tried earlier, people familiar said in 2023. (Updates with analyst estimate on Ant's valuation. An earlier version corrected Eric Jing's title in the 10th paragraph.) Why Apple Still Hasn't Cracked AI Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp DeepSeek's 'Tech Madman' Founder Is Threatening US Dominance in AI Race As Nuclear Power Makes a Comeback, South Korea Emerges a Winner ©2025 Bloomberg L.P. Sign in to access your portfolio
Business Wire
06-05-2025
- Business
- Business Wire
China's 2025 Labor Day Sees Surge in Inbound and Outbound Travel Spending via Alipay and Other Alipay+ Partner Payment Apps
HANGZHOU, China--(BUSINESS WIRE)--Data from Alipay and other Alipay+ partner payment apps indicates a notable increase in both outbound and inbound tourism spending in China during the 2025 Labor Day holiday (Golden Week). Outbound Travel: Chinese tourists explore local experiences through digital platforms in overseas destinations Through Alipay+, a unified wallet gateway with cross-border payment and digitization services developed by Ant International, users of 36 e-wallets in Asia and Europe—including Chinese travelers—can use their own home payment apps across over 70 markets without the need to exchange currency or carry cash. During China's Labor Day holiday, global Alipay+ merchants have joined Alipay in an exclusive campaign to lure travelers. The top destinations for Chinese travelers, based on total Alipay spending, are Hong Kong SAR, Japan, Macao SAR, South Korea, Thailand, Malaysia, Singapore, France, Canada, and Italy. Thanks to Alipay+'s 100 million-strong and diverse global merchant network, Chinese tourists are increasingly seeking more personalized, local experiences. Switzerland recorded the highest average Alipay spending per user, while in South Korea, average spending exceeded USD 100—driven in part by the growing trend of traveling for cosmetic surgery. In addition, the growing desire for immersive local travel experiences is driving increased use of local transportation, with Alipay transactions rising 53% year-over-year. Public transit has become the most frequently used Alipay service among travelers. Taking buses and subways with Alipay is especially popular in Hong Kong SAR and Macao SAR, where travelers are already familiar with using it for daily commutes. Other emerging trends include buying train tickets in Europe and unlocking shared bikes in Japan with Alipay. Furthermore, Alipay's real-time tax refund service saw a 33% year-on-year increase in the refund value per transaction, while the number of claims for Alipay's instant discount offer increased by 46% compared to the New Year's Day holiday. Inbound Travel: Visa-free entry, updated tax refund policies, and new payment options attract international travelers Since September 2023, the Alipay+ solutions have supported 13 leading payment apps 1 in Asia to serve their roaming users across Alipay's extensive merchant network in China. Thanks to China's updated tax refund and visa-free policies, more international travelers are heading to the country. During the Labor Day holiday, both the number of transactions and the total spending by travelers using the 13 overseas e-wallets rose by over 100% year-on-year. AlipayHK topped the list for total spending, followed by Malaysia's Touch 'n Go e-Wallet, Kazakhstan's Macao SAR's MPay, and Thailand's TrueMoney. With Alipay+, international travelers may also bind their Visa, Mastercard, American Express, JCB, Discover ®, Diners Club International ®, and UnionPay International credit or debit cards to Alipay for a seamless travel experience in China. This enables smooth payments and access to a wide range of digital services on the Alipay platform, including ride-hailing, hotel bookings, and plane or train ticket purchases. Alipay Tap!—a contactless payment and customer engagement solution introduced by Alipay in China in June 2024—has also quickly become a preferred payment method among international travelers to China. The solution is essentially a simplified QR-code method that enables users to access services hosted on Alipay simply by tapping a merchant's terminal or an Alipay Tap! Tag, without needing to open an app, scan a code, or navigate multiple screens. As of April 2025, Alipay Tap! had attracted over 100 million users in China within just 11 months of launch. During the Labor Day holiday, travelers from the 54 countries covered by China's 240-hour visa-free transit policy spent 50% more via Alipay Tap! compared to the same period in April. About Alipay+ Ant International's Alipay+ is a unified wallet gateway with cross-border payment and digitization services that help connect global merchants to consumers. Consumers enjoy seamless payments a broad choice of deals and the convenience of digital services using their preferred payment app/e-wallet while travelling abroad. Many small and medium-sized businesses already use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth. About Alipay As the world becomes increasingly digital, Alipay has evolved from a trusted e-wallet into an all-in-one digital platform for daily services, connecting more than one billion consumers to over 80 million merchants across China. Alipay offers users a secure, seamless mobile payment experience and integrates over 10,000 services across sectors like travel, healthcare, tourism, and entertainment. With digital tools like Alipay Tap!, mini-programs, lifestyle accounts, Alipay enables merchants, institutions, and independent software vendors (ISVs) to enhance operational efficiency and effectiveness. In addition, Alipay is developing a new AI-driven open platform by integrating AI agents to deliver smarter, more personalized services to its users as well as facilitating the digital transformation of the service sector.
Cision Canada
29-04-2025
- Business
- Cision Canada
Meizu Launched the World's First Offline Payment Function for AR Glasses
HONG KONG, April 29, 2025 /CNW/ -- After a user utters a payment confirmation command, the merchant instantly receives payment from the smart glasses. Payment can be completed simply via the smart glasses, with no need for users to pull out their phones. This is not a scene from a sci-fi movie but the world's first implemented offline payment function for AR glasses. In Hong Kong on April 29, 2025, Meizu announced its official launch of the world's first offline payment function for AR glasses, which was initially integrated into the StarV Air2 smart glasses. It is learned that the function is set to be gradually implemented in Q3 this year, and all new smart glasses to be launched by Meizu in 2025 will offer this payment function. This innovation not only delivers a fresh payment experience for consumers but also marks another major breakthrough for Meizu in the smart glasses industry. Ushering in a New Era of Payment as the World's First The offline payment function for AR glasses unveiled this time marks its global debut. This achievement stems from the deep collaboration between Meizu and the cross-border payment technology team of Ant International Alipay+. Leveraging the cutting-edge payment technology of Alipay+, Meizu harnessed multiple AR glasses capabilities, such as optical waveguide display technology, voice noise reduction and capture technology, and camera-based code scanning technology, to innovate payment scenarios, delivering a more convenient payment experience for overseas users. At the Ant International Alipay+ Global Partner Summit, this pioneering function attracted widespread attention and recognition from industry partners. Pioneer in AI Ecosystem Integration Meizu's leading position in the smart glasses industry is undeniable. According to public data, the StarV series captured 41.5% of the AR smart glasses market in the first quarter after its launch, ranking first in China. In 2025, the StarV Air2 maintained the top spot on Best-Selling Smart Glasses List for three consecutive months. The introduction of this offline payment function not only strengthens the StarV series' competitive edge but also underscores Meizu's industry responsibility of pioneering advancements in the AR glasses sector. Meizu has consistently led the industry in AR technology, as most directly evidenced by its products. For instance, the highly popular StarV Air2 is equipped with the world's smallest Micro LED display system and features optical waveguide lenses made of tempered glass to ensure clarity and enhance the user experience. Amid the rapid growth in the current AR glasses market, Meizu actively integrates AI ecosystems to expand the application boundaries of smart glasses. Its self-developed Flyme AI model, coupled with collaborations with leading third-party AI models like Alibaba Cloud's Tongyi Qianwen, ByteDance's Doubao, and Baidu's ERNIE Bot, delivers smarter and more convenient AI services to users. The offline payment function exemplifies another achievement in Meizu's AI ecosystem integration. It enhances the practicality and appeal of smart glasses while creating new business growth drivers for Meizu. It is expected to further drive market popularization of the StarV series and sustain business growth. Unlock New Growth Frontiers for the Industry Today, smart glasses are increasingly applied in work and daily life. The addition of the payment function expands application scenarios and accelerates market penetration and popularization of smart glasses. As a pioneer in smart glasses technology, Meizu sets technical benchmarks for the industry by exploring new scenarios and functions. By building a "hardware + payment + services" ecosystem, Meizu is propelling smart glasses toward becoming the next-generation smart terminals after smartphones, unlocking new growth frontiers for the consumer electronics sector. Meizu is the smartphone brand of DreamSmart Group, which carries AI eco-products in three product areas, which are smartphones, XR and smart cars. With deep technological expertise in multiple industries, DreamSmart is recognized as a leader in smart ecosystems. The realization of the world's first offline payment function for smart glasses not only charts a new development path for the global consumer electronics industry but also drives progress across the AR glasses industry and its supply chain. With outstanding performance in technologies, products, and strategic planning, Meizu is leading the smart hardware industry toward a smarter and more convenient future, creating enhanced smart living experiences for consumers worldwide.
Yahoo
27-03-2025
- Business
- Yahoo
LankaPay joins hands with Ant International to support Alipay+ in Sri Lanka
LankaPay, the national payment network of Sri Lanka, has partnered with Ant International to support Alipay+ acceptance in the country. This will enable over 400,000 LANKAQR merchants to accept mobile payments from travellers via 14 international e-wallets connected to Alipay+ during the initial phase. The first phase of the rollout will allow travellers from ten countries and regions to use their e-wallets to make payments in Sri Lanka by scanning LANKAQR codes at merchant locations. LANKAQR, managed by LankaPay, is an initiative by the Central Bank of Sri Lanka that standardises QR code-based transactions and integrates consumers, banks, and merchants into a single payment ecosystem. Alipay+ partners in this phase include e-wallets from China, Hong Kong SAR, Macao SAR, Mongolia, the Philippines, Singapore, Malaysia, South Korea, Thailand, and Italy. The move is expected to facilitate the acceptance of cross-border payments in Sri Lanka, catering to markets such as Italy, Singapore, Malaysia, China, South Korea, and Thailand. These markets have been identified by the Sri Lanka Tourism Development Authority as potential sources of tourists and business travellers, the release said. The partnership aims to increase the number of Alipay+ partner e-wallets accepted in Sri Lanka. LankaPay CEO Channa de Silva stated: "We are delighted to partner with Ant International and enable Alipay+ cross-border payment solution, which signifies a landmark milestone in our global journey. This partnership connects us with international Alipay+ partner users worldwide, enabling them to make seamless payments during their visit to Sri Lanka, similar to their experience at home. 'This collaboration signifies our commitment to enhance payment convenience to tourists and business travellers to Sri Lanka and attract much needed foreign exchange into the country.' Ant International Southeast Asia, Australia and New Zealand General Manager Edward Yue said: 'The national LANKAQR infrastructure by the Sri Lanka Central Bank and LankaPay lays a strong foundation for the digitalisation of local businesses and we're proud to partner with LankaPay to enhance interoperability and connect global customers to the local payment ecosystem. 'Beyond payments, Alipay+ also enables merchants to reach travellers through new digital services directly within mobile apps, digitalising key travel scenarios, opening new channels of engagements and driving even more vibrant and inclusive growth.' Earlier this month, Alipay+ expanded its partnership with Whale Cloud to offer businesses the technology to launch their own mobile applications using Alipay+ Wallet Tech. "LankaPay joins hands with Ant International to support Alipay+ in Sri Lanka " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
