Singapore — Payments platform 2C2P and Ant Group, an affiliate of the Chinese Alibaba Group, have struck a strategic partnership with the aim to accelerate digital payment adoption and innovation in the Southeast Asian region. The partnership, upon completion, will see Ant Group becoming the majority shareholder of 2C2P.
Through the partnership, 2C2P’s extensive pool of merchants inclusive of global and regional brands will be connected with Alipay+, extending its current 250 payment options offering to include even more e-wallets and local payment methods. With this, merchants will benefit from a wider geographical reach, connecting seamlessly to over one billion consumers globally.
Aung Kyaw Moe, founder and CEO of 2C2P, said that digital payment adoption has accelerated rapidly in recent years, spurred by the pandemic, with mobile wallet payments widely gaining momentum across Asia.
Moe adds, “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. 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.”
Angel Zhao, president of Ant Group’s International Business Group, commented, “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. We look forward to supporting businesses’ digitalisation together and creating a connected digital ecosystem across markets in the region.”
Introduced by Ant Group in 2020, Alipay+ is a suite of global cross-border digital payments and marketing solutions 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. Leading e-wallets supported by Alipay+ include Touch ‘n Go eWallet in Malaysia, KakaoPay in South Korea, GCash in the Philippines, Alipay HK in Hong Kong and more.
On the back of the partnership, 2C2P plans to further expand its global merchant coverage, in addition to strengthening its technology and product capabilities to better serve merchants across Southeast Asia and globally.
Last March, 2C2P also partnered with ShopeePay to increase access to digital payment options for consumers and merchants in Southeast Asia.
