Lisa Robins, Global Head, Transaction Banking, Standard Chartered, said, “ Remittance are a lifeblood of many communities in the Philippines, the third largest remittance market with US$33 billion of inflows in 2017. We are proud to collaborate with Ant Financial, and act as their banking partner for this new service to make remittances easier, cheaper and more secure. This evidences our joint commitment to deliver financial services to the unbanked and underbanked and exemplifies our “Here for Good” brand promise.”
Eric Jing, Executive Chairman and CEO of Ant Financial said, “We are thrilled to witness AlipayHK and GCash jointly launch the groundbreaking cross-wallet remittance function. Ant Finacial is dedicated to exploring fintech breakthroughs and applying them to benefit more people in more places This is a new starting point and significant step forward in accelerating Alipay’s pace to promote tech for good, and financial inclusion globally. Through leveraging our technology capabilities, we are committed to bringing financial services to the large underserved populations in Asia and beyond together with our ecosystem partners who share our vision and mission.”
“Ant Financial and Alipay have been exploring the cutting-edge blockchain technology since 2015. Blockchain is revolutionizing the remittance industry, and we look forward to further innovating and expanding the application of the technology in global remittances, together with local wallet partners and other ecosystem partners,” Jing added.
Since the launch of Alipay in 2004 and the establishment of Ant Financial in 2014, the Company has built an integrated technology platform and ecosystem of partners to bring more secure, transparent, cost-effective and inclusive financial services to individuals and SMEs globally. The Company will continue to invest in developing its blockchain, Al, Security, Iot and computing capabilities to upgrade its global technology platform for the next generation.
Starting from 2015, Alipay has formed nine strategic partnerships with local partners outside Chinese mainland, sharing their technology know-how and risk management capabilities to provide more mobile payment and inclusive financial services to local users. In the year ended March 31, 2018, Alipay, together with its global partners, served approximately 870 million annual active users globally and over 15 million small business in China.