Ant Group, an offshoot of Alibaba and the owner of the largest payment platform in China – Alipay, has partnered with 2C2P – a global payments platform. Simultaneously it was announced that Ant Group will become the majority shareholder of 2C2P upon completion of the deal. 2C2P is based in Singapore and also provides other services like bill payments and more.
The terms of the deal were not disclosed.
According to a company statement, the strategic partnership will see 2C2P’s pool of merchants connected with Alipay+, boosting its current 250 payment options. Alipay+ provides global cross-border mobile payments and marketing solutions that connect merchants with mobile payments.
Aung Kyaw Moe, Founder and CEO of 2C2P, said thatdigital payment adoption has accelerated in recent years with mobile wallet payments 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. 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, explained that by combining the two operations the partnership is a “win-win collaboration” with a shared vision to accelerate the digital transformation of payments:
“We look forward to supporting businesses’ digitalisation together and creating a connected digital ecosystem across markets in the region.”
2C2P reports a strong presence across multiple markets in Asia including Thailand, Singapore, and Malaysia. 2C2P offers payment acceptance, issuing, pay-out, as well as other value-added solutions and services to merchants across verticals such as e-commerce, financial services, airlines, travel, hospitality, and retail.
