iFAST Global Bank Rolls Out Worldwide Scan and Pay, Powered by Alipay+
iFAST Global Bank has launched Worldwide Scan & Pay, a new cross-border QR code payment feature powered by Alipay+ from Ant International. This service enables iFAST clients to make quick, cardless transactions at over 150 million merchants across 220+ markets globally by scanning QR codes via their mobile application. Payments are directly linked to clients’ Multi-Currency Current Accounts, making it ideal for in-person retail, dining, and travel. This collaboration marks the first between Ant International and iFAST Global Bank, with future initiatives, including AI-powered travel offerings, already under consideration.
This partnership between iFAST Global Bank and Alipay+ signifies a significant step in the ongoing digitalization of payment systems across Asia. The integration of Alipay+’s unified wallet gateway with iFAST’s banking services streamlines cross-border transactions, addressing a key pain point for consumers and businesses in a highly mobile region. This move enhances the convenience of international payments, potentially accelerating the adoption of QR-based payment solutions and reducing reliance on traditional card networks.
For Asia’s tech ecosystem, this collaboration highlights the growing trend of financial institutions leveraging established fintech platforms to expand their global reach and improve user experience. Ant International’s strategy of partnering with banks and e-wallets to extend the Alipay+ network reinforces its position as a critical infrastructure provider in the digital payments landscape. This also underscores the competitive pressure on traditional banks to innovate and integrate with agile fintech solutions to remain relevant in an increasingly digital-first market.
