Alipay, Finablr team up on cross-border payments and blockchain

Friday 29 November 2019 10:57 CET | News

Alipay has teamed up with Finablr, a London-listed payments and foreign exchange company, for cross-border remittance services and blockchain applications.

The partnership aims to provide a boost to Ant Financial’s existing blockchain capability and is expected to expand the reach of remittance services for both companies. The two companies will also explore other areas of collaboration, including digital gifting as well as driving efficiencies through Ant Financial’s Ant Blockchain Information System.

The partnership is not the first Ant Financial has made in the UK in 2019. The Chinese fintech company acquired Worldfirst, a UK-based payments company, after its acquisition of US money transfer company MoneyGram in 2018 fell through over US national security concerns, according to Tech Node.

Moreover, in October 2018, Travelex and Swych, two brands under Finablr, launched a cross-border shopping solution for Alipay’s largest rival WeChat Pay, the online publication added.
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Keywords: Alipay, Finablr, cross border, blockchain, payments, remittances, UK, partnership, fintech, money transfers
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech