Ant Financial Services Group, formerly known as Alipay, is an affiliate company of the Chinese Alibaba Group. Ant Financial is the highest valued fintech company in the world, and the world’s most valuable unicorn (start-up) company, with a valuation of US$150 billion.
Thanks to teh partnership between TransferWise and Alipay, 7 million-plus users of TransferWise will be able to send Chinese yuan from 17 currencies to users of Alipay.
Two new partners, Bottomline Technologies and Tranglo, are currently working on integrating Ripple’s technology for their cross-border payments. The U.S. Treasury might also be supportive.
The collaboration between Tencent and UnionPay would allow merchants to accept payments from one customer using WeChat Pay and another using UnionPay’s QuickPass by presenting both with the same scannable code.
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