India Stalls Alipay+ Payments Link Over Security Risks
India has stalled a proposal to link Alipay+ with its instant payments system over national security concerns and data storage risks. The plan faced opposition due to its Chinese links and potential money-laundering threats.
India has stalled a proposal by Alipay+ to link with its instant payments system over national security concerns and data-storage risks. The January proposal marked the first financial services bid by a China-linked entity since bilateral tensions eased following a 2020 border clash. China outbound cross-border payments across the Asia-Pacific region are projected to reach $23.8 trillion by 2032.
