DBS and Ant International have intensified their partnership to enhance cross-border payment solutions and promote inclusive financial growth.

The new agreement will allow DBS PayLah! users to use Alipay+ QR codes for transactions at various merchants across more than 100 markets.

The collaboration aims to capitalize on DBS’s digital banking expertise and Ant International’s advanced technologies, such as AI and blockchain, to expand cross-border payments, enhance connectivity, and foster innovation in the financial landscape.

Focusing on Scaling Digital Payments and Advancing Fintech Development

The Memorandum of Understanding (MoU) between DBS and Ant International encompasses their core businesses, including Alipay+, Antom, WorldFirst, and Bettr Platform Tech, to realize a comprehensive partnership that covers several key areas.

One critical area is boosting cross-border payment integration. Under this initiative, DBS PayLah! will be integrated into the Alipay+ ecosystem, facilitating QR code payments for multiple users across various businesses. Additionally, Ant International and DBS plan to explore real-time remittances to consumer accounts on Alipay+. This could involve a bank-to-wallet solution that uses ISO 20022 messaging standards and leverages the SWIFT network for secure and simplified cross-border transactions.

The partnership also aims to support small and medium-sized enterprises (SMEs) in their digital transformation by partnering with Antom, which offers unified merchant payment and digitization services. Potential solutions under consideration include the Model Context Protocol (MCP)-based Antom Agentic Payment solution, designed to streamline payment methods, secure mandates, and leverage trusted AI technologies.

Furthermore, DBS will collaborate with WorldFirst to expand same-day and near-instant cross-border payment options for SME clients. The broader goal is also to foster the development of regional fintech ecosystems by deepening their existing efforts on tokenized deposits.