Ant International reported a robust growth across its core business segments following a spin-off in March as its mainstay cross-border mobile payment platform Alipay+ connects more consumers and merchants worldwide.
The Singapore-based overseas unit of Ant Group said its four business pillars – Alipay+, Antom, WorldFirst and Embedded Finance – have delivered strong performance over the past year, according to a company statement.
Alipay+ has linked over 90 million merchants in 66 markets to 1.6 billion user accounts through collaboration with 35 payment partners worldwide, including e-wallets and banking apps at the end of November. They increased from 88 million merchants in 57 markets and 1.5 billion users December last year.
Cross-border transactions through Alipay+ partners surged threefold in 2024, the company added, without disclosing the sum. WorldFirst, a global business-to-business payment service, hit an annual total payment volume (TPV) of US$100 billion, or four times the level in 2020.
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What is Jack Ma’s Ant Group and how does it make money?
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Antom, a merchant-facing payment service provider, nearly doubled its TPV year-over-year from January to November 2024, with card processing volumes growing more than tenfold. It did not provide the transaction amount.