Ant Group Inks Deal to Become Payments Firm 2C2P’s Largest Shareholderby Fintech News Singapore April 18, 2022
Payments firm 2C2P announced that Chinese fintech giant Ant Group will become its majority shareholder in a strategic partnership. Further details of the deal was not disclosed.
Through the strategic partnership, 2C2P’s extensive pool of merchants inclusive of global and regional brands will be connected with Alipay+, extending its current 250 payment options offering to include even more e-wallets and local payment methods.
With this, 2C2P’s merchants will benefit from a wider geographical reach.
Introduced by Ant Group in 2020, Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach regional and global consumers.
E-wallets supported by Alipay+ include Touch ‘n Go eWallet (Malaysia), KakaoPay (South Korea), GCash (Philippines), Alipay HK (Hong Kong) and more.
The company said that it plans to further expand its global merchant coverage, in addition to strengthening its technology and product capabilities to better serve merchants across Southeast Asia and globally.
2C2P is a full-suite payments platform headquartered in Singapore, with a strong presence across key markets in Asia including Thailand, Singapore and Malaysia.
Aung Kyaw Moe, Founder and CEO of 2C2P, said,
“Through this complementary partnership with Ant Group, 2C2P will be connected to a much larger merchant base and be well-positioned to advance our international expansion strategy.
I am confident that 2C2P will be able to scale new heights, and build an unparalleled and robust range of payment solutions that will deliver maximum value and impact to our merchants and partners.”
Angel Zhao, President of Ant Group’s International Business Group said,
“Combining Alipay+ and 2C2P’s secure and comprehensive payment offerings, extensive merchant coverage and deep local knowledge of the region, this partnership is a win-win collaboration built on strengths and the shared vision to accelerate the digital transformation for businesses through innovation and best-in-class payments solutions.
We look forward to supporting businesses’ digitalisation together and creating a connected digital ecosystem across markets in the region.”