Alipay and Adyen partner for global payments
Written by Peter Walker
Alipay has partnered with Adyen to support payment methods for the AliExpress, Taobao, Tmall and Alibaba.com brands globally.
The deal means that Adyen will support Alibaba, operator of the world’s largest retail commerce business, to facilitate payments outside of mainland China as the group looks to streamline existing payment management operations.
Clara Shi, head of the financial institution strategic partnership international business group for Alipay, said: “We 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.”
A statement suggested the collaboration should result in 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.
Warren Hayashi, president of Adyen Asia-Pacific, added: “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.”
Separately, earlier this week, AliExpress opened its first physical store in Europe.
Located in Madrid Xanadú, one of Europe’s biggest shopping malls, the outlet gives Spanish consumers the chance to see, feel and try different kinds of products. But if they want buy something from Aliexpress, they still need to go online to order the products.