Image Source: Visual China

BEIJING, April 18 (TMTPOST) —Chinese e-commerce giant Alibaba Group’s fintech arm Ant Group has formed a strategic partnership with Southeast Asian payment service provider 2C2P.

The two companies will collaborate on promoting digital payment, service innovation and connecting their payment services across Asia. Launched by Ant Group in 2020, Alipay+ is a global cross-border digital payment and marketing solution provider designed to enable businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach regional and global consumers.

Under the deal, Ant Group will also become 2C2P’s majority shareholder.

Founded in 2003, 2C2P is a Singapore-based payment platform provider that works with global enterprises operating in emerging markets to accept payments across online, mobile and offline channels, as well as provide issuing, payouts, remittance and digital goods aggregation and reselling services.

Alipay+ has been connected to a number of payment methods in different regions, such as Kakaopay in South Korea, GCash in the Philippines and AlipayHK in Hong Kong, etc.

The strategic partnership with 2C2P will allow Alipay+ to connect to 2C2P’s extensive pool of merchants and global and regional brands.

“Digital payment adoption has accelerated rapidly in recent years, spurred by the pandemic, with mobile wallet payments widely gaining momentum across Asia. Through this complementary partnership with Ant Group, 2C2P will be connected to a much larger merchant base and be well-positioned to advance our international expansion strategy,” Aung Kyaw Moe, Founder and CEO of 2C2P, said. “I am confident that 2C2P will be able to scale new heights, and build an unparalleled and robust range of payment solutions that will deliver maximum value and impact to our merchants and partners.”

“Combining Alipay+ and 2C2P’s secure and comprehensive payment offerings, extensive merchant coverage and deep local knowledge of the region, this partnership is a win-win collaboration built on strengths and the shared vision to accelerate the digital transformation for businesses through innovation and best-in-class payments solutions,” said Angel Zhao, president of Ant Group’s international business operations.