Adyen, the payments platform of choice for many of the world’s leading companies, today announced a collaboration with Alipay, the world’s leading payment and lifestyle platform. Alipay is operated by Ant Financial Services Group, the fintech player of Alibaba’s ecosystem, to support payment methods for the AliExpress, Taobao, Tmall and Alibaba.com brands globally.
The partnership with Alipay means that Adyen will support Alibaba, operator of the world’s largest retail commerce business offering services to consumers, merchants and brands. With this partnership in place, Adyen will facilitate payments outside of Chinese mainland for AliExpress, Taobao, Tmall and Alibaba.com as the Alibaba Group looks to enhance and streamline existing payment management operations.
“Adyen’s products are built with fast-growing, fast-moving businesses like Alibaba in mind. Adyen is designed to deliver real-time, data-driven and quickly scalable payment options. Alipay can utilize Adyen’s rich insights into payment authorization to help ensure higher transaction approval rates and an elevated level of user experience for our customers. We look forward to continuing our growth trajectory with Adyen,” said Clara Shi, Head of Financial Institution Strategic Partnership, International Business Group, Alipay.
With the collaboration in place, the benefits of using Adyen’s solutions include higher approval rates, shorter settlement cycles and access to granular data insights to drive optimization of the payment process. Adyen’s solution also offers Alibaba the ability to turn on additional payment methods quickly to build trust with local customers.
“At Adyen, our goal is to remove complexity from the payment process. Our solutions are created for fast-growing global giants like Alibaba who want to create a frictionless, uniform experience for their customers regardless of geography. We’re pleased to partner with Alipay and to be part of Alibaba’s journey as they seek to enter new markets and acquire new customers,” said Warren Hayashi, President of Adyen, Asia-Pacific.
Adyen (AMS: ADYEN) is the payments platform of choice for many of the world’s leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Spotify, Singapore Airlines, Cathay Pacific, Grab, Klook, Lorna Jane, Freelancer.com, Kogan.com and the Cotton On Group. The cooperation with Alipay as described in this merchant update underlines Adyen’s continuous growth with current and new merchants over the years.
Operated by Ant Financial Services Group, Alipay is the world’s leading payment and lifestyle platform. Launched in 2004, Alipay currently serves over 1 billion users with its local e-wallets partners. Over the years, Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Alipay’s in-store payment service covers over 50 markets across the world, and tax reimbursement via Alipay is supported in 35 markets. Alipay works with over 250 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 27 currencies.