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Adyen Partners with Alipay for Streamlined Payment Processes

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By Published On: August 29, 20190 Comments

Adyen and Alipay have partnered together to create an easier way to pay on sites like AliExpress, Taobao, Tmall and Alibaba globally. 

The partnership aims to streamline the global payment experience for users, merchants and business. Adyen will be able to facilitate payments outside of the Chinese mainland for Alipay’s sibling companies.

Adyen is a payment platform that provides end-to-end options for companies. Connecting directly to Visa, Mastercard and customer’s preferred payment methods across the world, it serves brands including Cotton On Group, Klook, Lorna Jane, Singapore Airlines and Spotify.

Alipay is the ‘world’s leading payment and lifestyle platform’. Launched in 2004 in China, it provides more than one billion users with e-wallets and supports 27 currencies. As a subsidiary of Alibaba Group, it has connections with AliExpress, Tmall and Taobao.

With this partnership in place, Adyen will facilitate payments outside of the Chinese mainland for AliExpress, Taobao, Tmall and Alibaba.com as the Alibaba Group ‘looks to enhance and streamline existing payment management operation’. So, what’s so great about this partnership? Together, Adyen and Alipay can achieve higher approval rates, provide access to granular data insights to push an optimised payment process and lower settlement cycles.

“Adyen’s products are built with fast-growing, fast-moving businesses like Alibaba in mind. Adyen is designed to deliver real-time, data-driven and quickly scalable payment options. 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,” explained Clara Shi, the Head of Financial Institution Strategic Partnership, International Business Group at Alipay.

Alibaba found that they needed to streamline their payment process and create a frictionless and uniform experience for their customers – no matter where they are in the world. “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,” explained Warren Hayashi, the President of Adyen, APAC.

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About the Author: Power Retail

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