China's Alipay already has broad global reach—its mobile wallet is accepted at more than 100,000 retail locations in 70 international markets—but in North America it’s just getting started.

Ant Financial's Alipay, an affiliate of Jack Ma’s Alibaba, has made significant progress in recent months through a handful of deals with North American acquirers, payments providers and merchant groups, but these cover only a fraction of the potential market for handling payments from Chinese consumers, according to Souheil Badran, president of Alipay North America.

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