Ant Group, Alibaba’s fintech affiliate, unveiled its comprehensive global expansion strategy, doubling its efforts in the overseas market through its new Singapore office. The company’s international business unit, Ant International, headquartered in Singapore, outlined a four-pronged strategy aiming to boost digital payment, digital commerce, and support services for merchants and SMEs.

At the Voyage Conference in Singapore, Ant International highlighted its flagship service, Alipay+, which has become pivotal in the fintech giant’s global outreach. Alipay+ currently links over 88 million merchants with 1.5 billion user accounts across 25 e-wallets and banking apps in 57 countries and regions. Yang Peng, President of Ant International, expressed optimism amid global economic uncertainties, citing evolving financial infrastructures and rapid digitalization as unprecedented opportunities for merchants worldwide, especially empowering small businesses.

Ant International, previously Ant Group’s international business arm, plays a significant role in driving the Alibaba affiliate’s expansion beyond China. The strategic move to establish a Singapore office, housing Ant International’s headquarters, underlines Alibaba’s commitment to global business and technology sectors. The initiative aims to leverage Singapore’s strategic position as a regional hub for facilitating international business endeavors.

With the new office and a fortified focus on Alipay+ services, Ant Group seeks to empower merchants globally, particularly small enterprises, in bridging the digital divide and capitalizing on burgeoning digitalization trends.