Recently, MasterCard (stock code: MA) announced the expansion of its cross-border remittance service through cooperation with Ant Group's Alipay.。

According to the statement, the cooperation agreement will allow users to send and receive money "almost instantly" in their digital wallets.。According to statistics, Alipay currently serves more than one billion Chinese consumers.。

In a statement, Chang Qing, President of MasterCard Greater China, said: "As one of the world's largest recipients of overseas remittances, China's demand for cross-border payments continues to grow.。"

Given the size and growth potential of the Chinese market, MasterCard and other payment companies have long set their sights on this market opportunity in China.。Last year, MasterCard and China UnionPay (NetsUnion Clearing Corp..) formed a joint venture and obtained a license for bank card clearing business from the People's Bank of China。

Alan Marquard, Head of MasterCard Transfer Solutions, said: "Partnering with Alipay is the most natural and sensible way to expand the range of services and an important piece of the puzzle needed to build a comprehensive service.。"

By partnering with MasterCard's international money transfer service, financial institutions can facilitate payments to more than 180 countries.。On the other hand, this also means that consumers can manage their funds more effectively without the need for one-on-one meetings, thereby avoiding misunderstandings in the dissemination of information within the organization。