Mastercard Expands Remittances Reach in New Pact With Alipay
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Mastercard Inc. is broadening its reach in cross-border remittances through its partnership with Alipay, the mobile-payments super-app backed by Ant Group Co.
The agreement, which expands Mastercard’s existing relationship with Alipay, allows consumers to receive money in their digital wallets “in near real-time,” according to a statement. Alipay caters to more than a billion consumers in China.