NETS Enhances Local SMEs’ Cross-Border Payments Capabilities With Alipay+ Integrationby Fintech News Singapore November 8, 2021
Network for Electronic Transfers (NETS), Singapore’s payment services group announced plans to integrate with Ant Group’s Alipay+ to further enhance the digital payments capabilities of its local merchants at the Singapore Fintech Festival 2021.
Introduced by Ant Group since 2020, the Alipay+ solutions are designed to make it easy for businesses, especially small and medium-sized enterprises (SMEs) to accept different payment methods and conduct cost-effective digital marketing campaigns.
Through the deployment of Alipay+ solutions, NETS can facilitate seamless transactions between local businesses and global consumers visiting Singapore, potentially connecting its Singapore merchants with e-wallet users worldwide.
Merchants will be able to accept payments in Singapore’s currency from Asia’s leading local e-wallet holders who will pay in their home wallet currencies.
This will enable merchants to serve global customers better whilst providing consumers with access to a wider merchant base.
The adoption of Alipay+ solutions is in line with NETS’ efforts to create additional revenue streams and strengthen operational efficiency for its merchants.
According to NETS, efforts are underway to integrate the Alipay+ solutions into its merchant portal with the aim to be operationally ready by early 2022.
“Having the most extensive network of acceptance points in Singapore for static and dynamic QR payments makes us an ideal partner for inbound wallet providers.
We are delighted to collaborate with Ant Group to offer Alipay+ and increase the business opportunities for our local merchants with access to an expanded pool of consumers,”
said Lawrence Chan, Group CEO at NETS.
“NETS makes an outstanding partner of choice with its vision to drive digital payment innovation and its strong network of merchants, many of which are small and medium-sized businesses.
With NETS’ integration with Alipay+ solutions, we look forward to supporting local businesses by connecting them with more customers from the region.”
said Cheng Guoming, General Manager of Alipay+ Global Payment Partnership at Ant Group.
Featured image: Edited from Unsplash