Chinese fintech giant Ant Group announced it has joined into a strategic partnership with 2C2P, a Singaporean payments platform, which will see Ant become the firm’s major shareholder, reports the South China Morning Post. The move is expected to boost the payment options of Ant’s Alipay+, a cross-border digital payment service introduced in 2020, which can process a wide range of mobile payment methods from around the world.
That service now has 250 payment options, including Kakao Pay in South Korea, AlipayHK in Hong Kong and Klarna in Europe. With 2C2P, those options would expand to include even more e-wallets and local payment methods, according to Ant and 2C2P’s joint statement on Monday.
2C2P offers payment acceptance, issuing, payout, as well as other value-added solutions to merchants across the e-commerce, financial services, airlines, travel, hospitality and retail sectors. It has built a strong presence across key markets in Asia including Thailand, Singapore and Malaysia.