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Mastercard has struck a deal with Alipay to allow global consumers to make international transfers to China, expanding its partnership with Ant Group.
This collaboration provides an important addition to international remittance services, enabling banking, fintech and corporate customers to achieve near real-time connectivity with Alipay. Alipay is a super app used by more than 1 billion users in China. It is one of the flagship products of Alibaba Group and leads the Chinese online payment market.
This cooperation is also closely related to the development of China’s tourism industry. As global economic activities recover, the demand for cross-border payments will further increase.
(Source: Seular Image source: Unsplash)
