AlipayChina’s Alipay has partnered with payment platform Adyen to facilitate payments outside of the Chinese mainland for its retail ventures such as AliExpress, Taobao, Tmall and Alibaba.com.

The partnership will help Alibaba Group streamline its existing payment management operations across its ecosystem, it said in a statement.

“Alipay can utilize Adyen’s rich insights into payment authorization to help ensure higher transaction approval rates and an elevated level of user experience for our customers,” said Clara Shi, Head of Financial Institution Strategic Partnership, International Business Group, Alipay.

Adyen’s solutions will help Alibaba achieve higher approval rates, shorter settlement cycles and access to granular data insights to drive optimization of the payment process. Adyen’s solution also offers Alibaba the ability to turn on additional payment methods quickly.

“At Adyen, our goal is to remove complexity from the payment process. 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. We’re pleased to partner with Alipay and to be part of Alibaba’s journey as they seek to enter new markets and acquire new customers,” said Warren Hayashi, President of Adyen, Asia-Pacific.

Headquartered in Amsterdam, Adyen is a payments platform which provides modern end-to-end infrastructure, connecting directly to Visa, Mastercard, and consumers’ globally preferred payment methods. It provides services across online, mobile and in-store channels.

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by Krishna V Kurup
Senior Market Analyst at IBS Intelligence
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