Alipay and Adyen Partner to Streamline Global Payment Experiences for Users, Merchants and Businesses
Payments platform Adyen has announced a collaboration with Alipay, the payment and lifestyle platform headquartered in China. 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 merchants, brands and consumers. 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 is designed to deliver real-time, data-driven and quickly scalable payment options” said Clara Shi, head of Financial Institution Strategic Partnership, International Business Group at Alipay. “Alipay can utilise Adyen’s rich insights into payment authorisation 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”.
With the collaboration in place, Adyen’s solutions should lead to higher approval rates, shorter settlement cycles and access to granular data insights to drive optimisation 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.