Capital A Partners with Ant International to Revolutionize Digital Payments and FinTech Collaboration

Friday, March 29, 2024

MOVE Digital, the digital division of Capital A, which includes the groundbreaking businesses AirAsia MOVE (previously airasia Superapp) and the fintech initiative BigPay, has unveiled a strategic partnership with Ant International. This collaboration aims to explore the integration of additional payment options and offer acquiring services on Capital A’s platforms, pursue digital marketing and sponsorship ventures to propel business expansion, and work together to improve access to sustainable finance. Additionally, it seeks to support the transition towards a low carbon economy for the Micro, Small & Medium Enterprise (MSME) community.

Tony Fernandes, CEO of Capital A said, “We’re thrilled to embark on this transformative journey with Ant International. Their global recognition as a financial technology powerhouse, coupled with their unparalleled expertise, is poised to propel rapid growth for our fintech venture BigPay and our online travel app (OTA) AirAsia MOVE. Both entities are dedicated to agile expansion, and this partnership promises to accelerate our collective mission of providing seamless financial services and affordable travel experiences to our customers worldwide.

“We are very excited to see the two companies found great synergy with each other and targeted various areas that we can collaborate on. By leveraging Ant International’s innovative digital technology solutions and Capital A’s rich and popular ecosystem, we can better serve the customers in the region and beyond,” said Yang Peng, CEO of Ant International.

In this collaboration, AirAsia MOVE and Ant International are joining forces to explore the integration of Alipay+ payment solutions into AirAsia MOVE’s platform. This will enable users to utilize Alipay+ for service payments. Furthermore, they will investigate the adoption of various Wallet Technologies, including super apps and mini-programs within the Alipay+ ecosystem, to enhance customer experiences.

Through leveraging Ant International’s substantial user network, AirAsia MOVE plans to promote its offerings more effectively. This includes specific promotions, unique offers for Alipay+ wallet users, and increased visibility within the Alipay+ ecosystem.

The partnership will also extend to cooperative marketing efforts and the exploration of sponsorship opportunities for events such as the UEFA EURO 2024 in Berlin, with the goal of enhancing the customer experience for AirAsia MOVE services through the use of Alipay+ payment solutions and its user base, alongside generating marketing and sponsorship avenues.

Additionally, it has been agreed that BigPay will join as the newest Alipay+ partner wallet, enabling its 1.5 million users to make seamless payments internationally. There will also be an exploration into employing Alipay+ Wallet Technology for fraud prevention and other innovative tech to forge a stronger payment platform.

Capital A boasts a diverse portfolio of over 20 products and services, including the AirAsia Aviation Group, AirAsia MOVE, and BigPay financial services, reaching over 700 million people regionally.

Since its introduction in 2020, the Alipay+ Cross-border Mobile Payment Service has been connecting more than 88 million merchants across 57 countries and regions with 1.5 billion consumer accounts across over 25 e-wallets and banking apps. This facilitates worry-free global travel and payment for consumers and enables merchants to expand their international consumer engagement and digital marketing.

Alipay+’s service is strengthened by extensive regional partnerships, such as with national QR schemes in Singapore (SGQR), Malaysia (PayNet), South Korea (ZeroPay), Sri Lanka (LankaPay), and Cambodia (KHQR).

Moreover, Ant International and Capital A will collaborate on promoting sustainability efforts, including the advancement of global digital inclusion, nurturing of digital talents, and support for sustainable travel initiatives. In alignment with this, Capital A has pledged support for Ant International’s SIRIUS initiative, aimed at providing the MSME community with accessible sustainable finance, thereby supporting the growth and elevation of this key sector, as stated in the LOI.

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