TrueMoney, true borders: Fintech giants unite for cross-border payments

Ant Group and TrueMoney, a dominant fintech company in Southeast Asia, have forged a collaboration to facilitate mobile payments across borders between China and Thailand, a move that will see Thai tourists making cross-border payments to millions of merchants in China via the TrueMoney e-wallet.

The cross-border payments are facilitated by Alipay+, a cross-border mobile payment ecosystem under Ant Group, China’s financial technology behemoth. Alipay+ boasts over 10 million payment points in China and provides solutions for marketing and digitalisation.

The partnership with Ant Group is a significant stride in TrueMoney’s efforts to simplify cross-border payments, making them as seamless internationally as they are domestically, according to Monsinee Nakapanant, Ascend Money Co’s co-president and operator of TrueMoney.

With China being a popular…