With over 225 markets standing to benefit globally from the collaboration of two e-payment giants, payment experiences are expected to improve.
On 3 August 2023, Worldpay and Alipay+ signed a Memorandum of Understanding to deepen mutual business cooperation in facilitating faster and more convenient payments across borders.
Also, by integrating Alipay+ into Worldpay’s global portfolio for e-commerce and point-of-sale (POS) offerings in a phased rollout (starting with the AlipayHK e-wallet), the two firms are striving to provide opportunities for merchants to enhance their payment experience to customers.
According to the firms’ own reports, digital wallets are the leading payment method globally in e-commerce and at points of sales, accounting for some US$18tn in consumer spending in the past year. With over 225 markets in 146 countries already utilizing the services of the two firms, this latest collaboration is expected to progressively improve the scope and flexibility of in-store, online and mobile transactions; fraud detection and management, authentication and payment security processes in cross-border and local e-commerce transactions.
Said Worldpay’s General Manager for Global E-commerce (APAC), Phil Pomford:
“Today’s consumers have high expectations when it comes to making purchases, and they expect nothing less than a convenient, fast and secure payment experience. To stay competitive, merchants must understand and offer the payment methods that their customers prefer. Local wallet providers are extending their dominance in several APAC markets. We’re thrilled to be collaborating with Ant Group to provide our global merchants access to the Alipay+ platform starting with the AlipayHK wallet.”
Ant Group’s General Manager (Europe and the Middle East), Guoming Cheng noted:
“The collaborative effort with Worldpay will empower merchants to sell globally and contribute to our mission of providing more open, digitalized and inclusive financial services to global audiences… Together we can help more merchants globally accelerate their growth journeys and expansion into strategic markets.”
