ALIPAY, the payment service affiliated to e-commerce giant Alibaba Group, aims to grow the number of overseas users by over 10 times to between 200 million and 300 million in the next two to three years.

Alipay now has about 18 million overseas users.

It is also providing payment services to more than 2,000 overseas vendors in foreign markets, including the US, Spain, Russia and Singapore, and handles transactions in 14 different currencies, said Peng Yijie, vice president of Alipay’s international business unit.

“We aim to bring our services and products in China to overseas, and our focus will be wireless payment services to make payment easier and more accessible,” Peng said at a media briefing in Beijing yesterday.

On China’s mainland, Alipay has more than 300 million real-name registered and verified accounts and handles about 80 million transactions each day on average.

Also yesterday, the payment service and micro-business financing company owned by Alibaba Chairman Jack Ma and colleagues officially changed its name to Zhejiang Ant Small & Micro Financial Services Group.

Ant Financial launched an open platform strategy to financial service, cloud-computing service and big data service to merchants as well as its credit rating system based on transaction records on Taobao and Tmall.

“Alipay’s smartphone application has shifted from merely providing services to a platform serving small vendors or merchants as well as financial institutions to help them attract and retain consumers,” said Liu Lejun, general manager of Ant Financial’s wireless Internet division.

The volume of payments via smartphone has surpassed those handled by fixed-line broadband as consumers shift toward wireless Internet.