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MoU signed at the Singapore Fintech Festival 2025 covers several areas of strategic cooperation to scale digital payments, strengthen connectivity and advance fintech innovation
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Partnership enables DBS PayLah! users to scan Alipay+ QR codes to pay at more than 150 million merchants across over 100 markets
DBS and Ant International have agreed to deepen their existing strategic collaboration to jointly explore innovative payments, digitisation and fintech solutions aimed at providing more inclusive services for regional businesses of all sizes and individual consumers.
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The collaboration will leverage DBS’ digital banking capabilities and Ant International’s cutting-edge financial technologies such as AI and blockchain, to scale cross-border payments, strengthen connectivity and drive innovations in the financial ecosystem.
The Memorandum of Understanding (MoU) was inked on the sidelines of the Singapore Fintech Festival 2025, committing DBS and Ant International’s key businesses – Alipay+, Antom, WorldFirst and Bettr Platform Tech – to a comprehensive partnership spanning several areas of strategic cooperation. These areas of collaboration include:
- Boosting cross-border payments connectivity: DBS PayLah! will join the Alipay+ payments ecosystem, enabling over three million DBS PayLah! users to make QR codes payments to more than 150 million merchants in over 100 markets.
- Exploring near-instant remittances to 1.8 billion consumer accounts on Alipay+: Ant International and DBS are currently exploring a bank-to-wallet solution that enables real-time remittances between DBS customers and more than 1.8 billion user accounts on the Alipay+ ecosystem. The solution will use ISO 20022 messaging standards and leverage the SWIFT network. Both organisations are also exploring further innovative solutions to enhance and simplify remittances between DBS customers and Alipay+ ecosystem users.
- Supporting small and medium enterprises (SMEs) on their digital transformation journey: DBS will partner with Antom, Ant International’s unified merchant payment and digitisation services provider, to explore potential solutions that can meaningfully support SMEs in advancing their digital transformation journey. An example being considered includes the Model Context Protocol (MCP)-based Antom Agentic Payment solution, which integrates Antom’s unique Alternative Payment Method checkout capabilities, industry-leading payment mandate model, and trusted AI technologies. DBS will also work with WorldFirst to scale up same-day and near-instant cross-border payments solutions for SME clients.
- Fostering innovation in regional fintech ecosystems: DBS and Ant International further reiterated their shared commitment to driving innovation in the financial sector, by deepening their existing collaboration on tokenised deposits1.
Peng Yang, CEO of Ant International, said: “We are proud to deepen our partnership with DBS, whom we have already been working closely with since 2013, on various initiatives including SME payment solutions and most recently, tokenised deposits. With a shared vision on enhancing inclusive growth for local and regional commerce, as well as nurturing local innovation and talent, we look forward to bringing our know-how in payments and digitalisation together to create even stronger synergy to continuously boost the digital economy in this region. Together, we’ll make a difference to the region by driving inclusive and sustainable growth.”
Tan Su Shan, CEO of DBS, said: “DBS is pleased to have the privilege to expand our partnership with Ant International. They are a truly like-minded partner in purpose-driven innovation, having demonstrated a shared vision for leveraging cutting-edge technology to create more efficient and inclusive financial ecosystems. By synergising our strengths, we can unlock new avenues for growth, accelerate future-ready solutions like tokenised deposits and agentic payments – and reimagine the future of finance to drive greater impact for our clients and customers.”
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