Friday, October 29th, 2021
Nuvei, a Canadian-based payments technology company, has joined forces with Alipay to connect Nuvei’s merchants with prospective customers in the Asia-Pacific.
Nuvei, “the global payment technology partner for thriving brands”, is an electronic payment processing company based out of Montreal, Canada. Their proprietary platform offers “seamless pay-in and pay-out” solutions. They facilitate connections between merchants and their consumers in 204 markets globally. They support 480 local as well as alternative payment methods, almost 150 currencies, and 40 cryptocurrencies.
Alipay is the foremost third-party mobile and digital payment platform in China that serves hundreds of millions of customers. Their role is to connect them with both merchants and partner financial institutions that provide inclusive financial services.
Empowering Merchants While Providing A Seamless Service
In early 2020, Alipay began to provide cross-border payment and merchant marketing tools to its partners. This facilitated businesses to accept numerous payment methods and carry out cost-efficient digital marketing campaigns.
The solution also makes it more beneficial for users of Asia’s e-wallet service providers, that include Alipay (Chinese mainland), AlipayHK (Hong Kong S.A.R.), GCash (the Philippines), Kakao Pay (Republic of Korea), DANA (Indonesia), TrueMoney (Thailand), and Touch’ n Go (Malaysia) to transact easily with more businesses.
Just in China, Alipay connects over 80 million companies and more than 1 billion users.
Since Nuvei and Alipay joined forces, they are now integrated into POS apps for online transactions via hosted payment pages or APIs and in-store purchases with the use of QR codes. Adopting the Alipay + solution means that Nuvei acquires another level of global reach and further extends its current portfolio of payment methods.
This enables Nuvei clients to efficiently market to the e-wallet holder Alipay + network by using a single API connection. Merchants will be able to accept one-time and recurring payments in the currency connected to the payment method from major e-wallet holders throughout Asia.
Philip Fayer, Chairman, and CEO of Nuvei, said:
“We aim to consistently offer the most relevant payment options that open up more global commerce potential, expand our clients’ potential customer base and drive new revenue streams. The partnership with Alipay is another proof of this goal. The APAC region is an economic powerhouse and very attractive to growth-minded companies. We are pleased to empower merchants to better market the region while making the buying experience as seamless as possible.”
Yurei Wang, General Manager of Alipay’s Global Merchant Partnership, said:
“Alipay has always believed in global partnerships, supporting service providers to better serve their clients and unlock growth opportunities so that it becomes easier for merchants to do business anywhere. With Nuvei’s integration into the Alipay+ solution, we look forward to enabling Nuvei to attract more Asian customers to its merchant network.”
Alipay continues in its mission to support the digital transformation of the service sector in China. On March 10, 2020, it announced a three-year plan to open up its platform further to, “support the digital transformation of 40 million service providers across China.”
During the Covid-19 outbreak, Alipay launched an incentive program that encouraged developers to create “mini-programs” that can assist users with the impact. This resulted in 181 mini-programs on the Alipay app that allowed contactless services throughout China, including legal and medical advice, grocery deliveries, public services, and logistics.
In Closing
The partnership between Nuvei and Alipay is indicative of their overall mission of supporting service providers to serve their clients better. This will translate into growth opportunities that allow merchants to operate their businesses anywhere.