Ant builds mobile payment network to rival Visa and Mastercard

Ant International built a global payment network for digital wallets to position itself as an alternative to Visa and Mastercard. The fintech subsidiary reported that 2025 revenue grew by roughly 25% to an estimated $3.7 billion. Investors speculated that the unit could pursue an initial public offering after it restructured into a separate entity in 2024, though President Douglas Feagin declined to share specific plans.