China's Ant Group doubles down on global expansion with cross-border payments offering Alipay+

Key Facts

Ant had invested in country-specific e-wallets across Asia, but the CEOs wanted to take their products overseas, said Feagin, also president of Ant International.
“We see a huge opportunity for expansion and the relatively broad coverage we have in Asia – we [would] like to replicate in places like Middle East, Latam and Europe,” said Feagin.
There are also growth opportunities in the firm’s established markets like Singapore and South Korea, for instance a lot of people use mobile payments in China, but still far fewer compared with people in other countries, said Feagin.
“When you think about the big markets that receive a lot of tourists, like Thailand and Japan, the chances for payment from mobile apps to grow are enormous.”