India stalls Alipay+ payments link over security, data concerns: Report
India’s move follows concerns over Chinese links, data handling and cyberfraud risks as the proposed link could have expanded cross-border payments to 150 million merchants, sources said.
- Indian authorities stalled a proposal to link Alipay+ with the Unified Payments Interface on September 3, citing national security and customer data-storage concerns, according to three sources familiar with the discussions.
- Singapore-Based Ant International submitted the proposal in January against a backdrop of India's strict oversight of Chinese-linked entities following a deadly 2020 border clash that prompted investment restrictions.
- The plan aimed to connect Indian travelers to more than 150 million merchants in Alipay+'s network; law enforcement flagged money-laundering risks and data-breach threats that exposed customers to cyberfraud.
- India's foreign ministry cited "political grounds" for the decision, with officials indicating there is no clear path to clearing the regulatory hurdles blocking the proposal's advancement.
- While the Asia-Pacific outbound payment market is projected to reach $23.8 trillion by 2032, scrutiny remains significantly higher for Chinese-linked entities regarding transaction data management and dispute resolution.
19 Articles
19 Articles
India stalls Alipay+ payments link over security, data concerns, sources say
India has stalled Alipay+'s proposal to link with its instant payments system. National security concerns and data usage questions are the primary reasons for this decision. The Indian government cited political grounds for halting the integration of the payment platforms. Law enforcement agencies also raised concerns about money laundering and data breaches.
EXCLUSIVE: India stalls Alipay+ payments link over security, data concerns, sources say
Alipay+'s proposal to link with India's instant payments system for cross-border transactions has been stalled due to national security concerns in New Delhi and questions about the storage and use of customer data, three sources familiar with the discussions said.
Fintech Unwrapped: India government blocks Alipay+ UPI integration
Payment Expert’s Fintech Unwrapped delivers the latest developing news that has shaped the sector over the course of the last week. This week, India has blocked Alipay+ from integrating its most popular payment method, Unified Payments Interface (UPI), due to various data, privacy and money laundering concerns. Also this week, SoFi’s stablecoin gets additional exposure […]
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