Ant Group beefs up payments offering - Mobile World Live

Ant Group beefs up payments offering

19 APR 2022

Ant Group took a majority share in payments platform 2C2P as part of a partnership designed to accelerate digital transaction adoption and innovation in Asia, along with bolstering its Alipay offering.

In a statement, Ant Group explained 2C2P’s extensive pool of merchants would be connected to Alipay+, extending its current 250 options to include more e-wallets and local payment methods.

The partnership will further benefit from a wider geographical reach, connecting to more than 1 billion consumers worldwide.

Ant Group did not disclose the size of stake taken, or indeed the investment it made.

Asia expansion
2C2P is a payments platform headquartered in Singapore with a presence in markets including Thailand, Singapore and Malaysia.

It claims to offer a number of products and services to merchants across verticals including e-commerce, banking, aviation, travel, hospitality and retail, which 2C2P added have been rapidly digitalising operations since the outbreak of Covid-19 (coronavirus).

Angel Zhao, president of Ant Group’s internal business group, stated the combination would help to accelerate “digital transformation for businesses through innovation and best-in-class payments solutions”.

Ant Group launched Alipay+ in 2020, offering cross-border digital payments and products enabling businesses to process a wide range of mobile payments regionally and internationally.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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