Alipay+ Deepens Banking Push With Hang Seng Deal
Ant International is expanding Alipay+ deeper into Asia’s traditional banking sector. Hang Seng Bank has become the payment network’s first banking partner in Hong Kong, allowing customers to make cross-border QR payments directly through the bank’s mobile app.
Hang Seng Mobile App users can now scan QR codes to make payments in mainland China and overseas through the Alipay+ network, which provides access to more than 100 million merchants across over 55 countries and regions.
The partnership marks another step in the convergence between traditional banking apps and the rapidly expanding ecosystem of digital wallets and QR-based payment networks in Asia.
Banks Tap Into Cross-Border Payment Boom
For banks, integrating with Alipay+ offers a way to expand cross-border payment capabilities without having to build separate connections with merchants and payment networks in individual markets.
Alipay+, Ant International’s unified wallet gateway, connects more than 50 digital wallets and financial institutions. The platform is accepted across more than 220 markets globally and has also established partnerships with more than ten national QR payment systems, including Malaysia’s DuitNow and Thailand’s PromptPay.
Demand for cross-border payments originating in Asia-Pacific is expected to grow faster than the global average. According to figures cited by Ant International, outbound consumer-to-consumer and consumer-to-business cross-border payment volumes from the region could reach $3.7 trillion by 2032, almost double the level recorded in 2024.
The growth presents an opportunity for banks to keep customers within their own digital ecosystems even when they travel or transact internationally.
Alipay+ Builds Bank Network Across Asia
Hang Seng is the latest in a growing number of Asian banks connecting their mobile banking customers to Alipay+.
Existing banking partners include OCBC in Singapore, Public Bank in Malaysia, Bank of the Philippine Islands and Asia United Bank in the Philippines, Kasikorn Bank and Siam Commercial Bank in Thailand, as well as Vietcombank in Vietnam.
The model allows customers to continue using a familiar banking app while gaining access to a much broader international merchant network.
Beyond payments, banks can also use the Alipay+ Super App Platform to integrate additional services through mini-programs and plug-in solutions, including travel-related services and other digital features.
Ant International Moves Deeper Into Banking Infrastructure
The expansion underscores Ant International’s broader ambition to position itself not only as a payments provider but increasingly as a technology and infrastructure partner to banks.
Alongside Alipay+, the company is developing AI-based foreign-exchange technology and blockchain-powered infrastructure for cross-border liquidity management. Ant International already works with global financial institutions including Citi, Barclays, Standard Chartered and HSBC across various technology initiatives.
For traditional banks, the rise of networks such as Alipay+ reflects a broader strategic shift in Asian payments: rather than competing with digital wallets solely through proprietary solutions, banks are increasingly connecting their own apps to external payment ecosystems.
The Hang Seng partnership brings that model to Hong Kong, one of Asia’s most important banking and cross-border financial hubs.
