Ant International’s Alipay+ payment gateway is expanding cross-border mobile payment services into Latin America through a partnership with regional fintech specialist PVS. The rollout enables tourists visiting the region to use their home country mobile wallets at merchant locations, tapping into Alipay+’s network of 150 million global merchants and 2 billion consumer accounts worldwide.
The expansion marks a significant push into Latin American payment infrastructure, where digital payment adoption has accelerated rapidly in recent years. PVS brings specialized expertise in customized payment solutions across the region, providing crucial local market knowledge for the deployment.
For fintech firms and payment processors operating in Latin America, this represents increased competition from a major Asian player with substantial scale advantages. Tourism-dependent merchants in the region gain access to a massive pool of international mobile wallet users, particularly from Asian markets where Alipay+ has dominant presence.
FXnCO Insight
Payment solution providers serving Latin American tourism sectors should evaluate partnership or integration opportunities with Alipay+ immediately to avoid losing merchant clients to competitors offering cross-border wallet acceptance.
Source: Finextra