Alibaba is China’s biggest online commerce company that offers consumer-to-consumer, business-to-consumer and business-to-business sales.
Alipay and Adyen team up to streamline global payments on Alibaba marketplace ecosystem
Alipay and Adyen are working together to enable payments outside of the Chinese mainland for merchants trading on Alibaba marketplace ecosystem.
The move will see sellers offering an added convenience of ‘borderless’ payment options to their consumers shopping on AliExpress, Taobao, Tmall and Alibaba.com. That is, consumers across the world are now able to choose their preferred payment option on Alibaba’s Group marketplaces.
“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 utilize Adyen’s rich insights into payment authorization 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.”
– Clara Shi, head of financial institution strategic partnership, international business group, Alipay.
With the collaboration in place, the benefits of using Adyen’s solutions include 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.”
– Warren Hayashi, Ppresident of Adyen, Asia-Pacific.