Digital payments and AI trends to watch with Yang Peng, Ant International

The Ant International CEO, Yang Peng shared his thoughts on how digital technology and AI  innovations can help tourism and trade internationally. Yang Peng, Ant International CEO recently shared these insights at 2024 the Japanese Fintech Festival.

Yang Peng explains why cross-border mobile payments aids Japanese tourism

Digital payments continue to grow, and Ant International aims to be at the forefront of delivering this service and making it as easy as possible for people to use this service in as many different locations as possible. The cross-border mobile payment and marketing solution of Ant International, now helps users of a total of 16 overseas e-wallets and bank apps to enjoy seamless payment at over 1.5 million local merchants across Japan. Number of transactions and total processing volume has grown significantly, especially from users of Kaokao Pay (South Korea), AlipayHK (Hong Kong SAR, China), GCash (the Philippines), and Touch ’n Go eWallet (Malaysia).

“Japan is the birthplace of the QR code and the mobile revolution,” said Yang. “With mobile payment, international travelers are going farther and wider for more unique and immerse experience, spending money at smaller shops, many of whom simply do businesses with a QR code. The transaction volume is growing very fast.”

This service was first introduced in 2020. Now Alipay+ Cross-Border Mobile Payment Service connects over 88 million merchants in 57 countries and regions to 1.5 billion consumer accounts on over 25 e-wallets and banking apps, allowing consumers to travel and pay worry-free globally, and merchants to build out cross-border consumer engagement and digital marketing.

The service builds on Alipay+’s extensive regional partnerships, including those with national QR schemes including Singapore’s SGQR, Malaysia’s PayNet, South Korea’s ZeroPay, and Sri Lanka’s LankaPay.

Offering secure payment options in real time using AI for international trade

With the rise of open-banking and other innovation initiatives, AI will increasingly become center of industry collaboration and product development. Ant International has been working closely with partners to apply AI technology into various areas, such as developing AI-driven FX services, customizing marketing solutions for global brands and enhancing risk management and fighting fraud in cross-border payments and FX operations.

Building the talent pool for future digital economy in Asia

Asia is a huge market for everyone, with huge population and economic potentials as well as the largest base for SMEs that are hunger for digital transformation, Yang noted. Beyond payment, Alipay+ works with partners to bring an expanding digital toolkit to SMEs. Over 5,000 micro businesses in Southeast Asia have adopted Alipay+ D-store, an all-in-one and cost-efficient ordering solution that aims to revolutionize the checkout experience and enable merchants to leap into digitalization and drive revenue growth.

“The key to building a vibrant, sustainable future digital economy is a vibrant talent pool,” said Yang. “Ant International has extensive partnerships with regional public and private sectors on training next-gen innovators with technology strength and cross-sector insights. We look forward to working with local partners in Japan to facilitate growth of young talents in the financial and digitalization sectors,” Yang added.

Ant International CEO Yang Peng shared the company’s learnings and insights into the role of digital payment and AI innovation into driving international tourism and trade at the 2024 Japan Fintech Festival on Tuesday.

About Ant International

Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realize their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.

About Japan Fintech Festival

Homepage of Japan Fintech Festival: https://www.fintechfestival.jp/

Festival Agenda:

• March 5 Southeast Asia’s leap to digital mastery – Reshaping the global landscape

Speaker: Yang Peng, CEO of Ant International

• March 5 Beyond Borders, Beyond Barriers: The importance of harmonized new global financial infrastructure (GFIF) for stable financial markets

Panelists include Douglas Feagin, President of Ant International

• March 4 Addressing the ESG data paradox: Availability, comparability and connectivity

Panelists include Leiming Chen, Chief Sustainability Officer, Ant International

• March 6 Tokenisation of real-world assets: From concept to commercialisation
• March 4 Digital assets: Foundational infrastructure to unlock the internet of value

Panelists include Kelvin Li, Head of Platform Tech, Ant International

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