To date, Ant's Alipay has been comparable to PayPal, seldom venturing beyond payments. The financial products Alipay plans to pursue as it enters new markets put it more firmly in direct competition with mainstream banks.
Alipay's deal to buy MoneyGram for $880 million may be the centerpiece of its strategy to expand beyond China's borders, but it's not its first move in recent months. The Alibaba payments affiliate has already extended its reach in several other ways.
President Donald Trump's signing of an executive order Wednesday to push forward with plans for a "security wall" between the U.S. and Mexico has strong implications for how the plan will affect cross-border payments.
Boston-based Buildium, which provides a software platform for real estate property managers, has expanded its ePay online payment service to Canada, marking the first region outside the U.S. where Buildium supports electronic payments.
U.K.-based Rambus Ecebs, a provider of mass-transit ticketing technology, is harnessing Host Card Emulation (HCE) for its new service supporting a virtual ticketing app that can replace physical transit cards.