Alibaba affiliate and Alipay parent Ant Financial’s acquisition of London-based payments and currency exchange company WorldFirst marks Ant Financial’s first big move in the UK. It also signals a rebound in the company’s international expansion plans, overcoming regulatory obstacles in its path.

“Alipay and WorldFirst’s capabilities and international footprints are highly complementary,” Ant Financial said in a statement shared with TechNode, adding that the tie-up will add WorldFirst’s international online payments and virtual account products to Alipay’s existing technology solutions.

Ant Financial expects to further expand its customer base through the acquisition of the UK payments firm, especially in the area of cross border e-commerce.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.