FIS, a global financial technology leader, has announced that its merchant solutions business, Worldpay, will integrate Alipay+ into its global portfolio. This will give merchants the ability to accept cross-border payments from a wide range of methods, including AlipayHK, the e-wallet operated by Ant Group.
The integration will be rolled out in phases, with Worldpay's merchants first being able to support AlipayHK. The partnership is expected to help merchants enhance their customers' payment experiences and accelerate their growth journeys in strategic markets.
"Today's consumers have high expectations when it comes to making purchases, and they expect nothing less than a convenient, fast and secure payment experience," said Phil Pomford, general manager for global e-commerce, APAC, Worldpay from FIS. "To stay competitive, merchants must understand and offer the payment methods that their customers prefer. Local wallet providers are extending their dominance in several APAC markets. We're thrilled to be collaborating with Ant Group to provide our global merchants access to the Alipay+ platform."
Digital wallets are one of the leading payment methods globally in e-commerce and at POS, accounting for over $18 trillion in consumer spending in the past year alone according to Worldpay from FIS' 2023 Global Payments Report. By enabling transactions on shoppers' preferred digital wallets in Asia, this partnership provides merchants with the opportunity to enhance their customers' payment experiences.
"The collaborative effort with Worldpay will empower merchants to sell globally and contribute to our mission of providing more open, digitalised and inclusive financial services to global audiences," said Guoming Cheng, general manager of Ant Group in Europe and the Middle East. "Alipay+'s suite of innovation solutions is connected with more than one billion consumers worldwide. Together we can help more merchants globally accelerate their growth journeys and expansion into strategic markets."
Benefits for merchants
There are a number of benefits for merchants who integrate Alipay+ into their payment solutions. These benefits include:
- Increased customer satisfaction - By offering Alipay+, merchants can provide their Chinese customers with a more convenient and familiar way to pay.
- Increased sales - Chinese consumers are increasingly using digital wallets to make cross-border purchases. By offering Alipay+, merchants can tap into this growing market.
- Reduced fraud risk - Alipay+ uses advanced fraud prevention technologies to protect merchants from fraud.
The integration of Alipay+ into Worldpay's global portfolio is a significant development for merchants who are looking to expand their reach into Asia and other markets where digital wallets are popular. The partnership is expected to help merchants improve their payment acceptance rates, reduce transaction costs, and provide their customers with a more convenient and seamless checkout experience.
