TrueMoney

TrueMoney said the wallet will let users create, manage, and recover wallets within the app.

TrueMoney Philippines served over 5 million customers and 20,000 SMEs before exiting the market.

Getting a loan may sound simple on paper, but for some, it’s an entire ordeal filled with twists and turns.

One has taken a download-first approach while the other is focusing on local partnerships.

The expansion is Alipay+’s single largest push to grow its cross-border solution since its launch in 2020.

The move is part of the “Alipay+ in China” program, which aims to open mobile payments in the country to international travelers.

The firm has dialed up efforts to grow its cross-border solution Alipay+, indicating that digital payments in Southeast Asia is again a priority.

Customers can now use GCash from the Philippines, TrueMoney from Thailand, and AlipayHK from Hong Kong for transactions in Singapore through Alipay+.

The deal will allow passengers of Comfort and CityCab taxis to pay for their fares using Touch ‘n Go eWallet or Kakao Pay.

After raising US$150 million in its latest round, Ascend Money plans to use part of the funds to expand its financial services across Southeast Asia.