Southeast Asia e-payment and financial service provider TrueMoney is aggressively expanding its services, with the aim of becoming a financial services super application. The company has strengthened its relationship with Alipay by offering Thai tourists the option of using their TrueMoney e-wallet for payment at Alipay outlets in China. Mobile payment market leader Alipay holds a 30% share in Ascend Money. TrueMoney became a part of the Ascend Group in 2014.
"TrueMoney aims to have 50% of the Thai population using its services actively everyday by 2025 and aims to reach profitability in 2023 after a decade of operations," said Monsinee Nakapanant, co-president of Ascend Money.
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