Adyen will facilitate payments outside of Chinese mainland for AliExpress, Taobao, Tmall and Alibaba.com
The payment platform Adyen announced a collaboration with Alipay, the world’s leading payment and lifestyle platform. Alipay is operated by Ant Financial Services Group, the fintech player of Alibaba’s ecosystem, to support payment methods for the AliExpress, Taobao, Tmall and Alibaba.com brands globally.
The partnership with Alipay means that Adyen will support Alibaba, operator of the world’s largest retail commerce business offering services to consumers, merchants, and brands. With this partnership in place, Adyen will facilitate payments outside of the Chinese mainland for AliExpress, Taobao, Tmall and Alibaba.com as the Alibaba Group looks to enhance and streamline existing payment management operations.
With the collaboration in place, the benefits of using Adyen’s solutions include 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 to build trust with local customers, the company says in a press release.
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