NETS Integrates Alipay+
To Enhance Local Merchants’ Cross-Border
Digital Payments Capabilities
NETS’ merchants in Singapore will leverage Alipay+ solutions to provide a seamless and efficient mobile payments experience for inbound visitors by early 2022
Singapore, November 8, 2021 – Network for Electronic Transfers (NETS), Singapore’s leading payment services group and Ant Group today jointly announced at the Singapore FinTech Festival 2021 the plan for NETS to integrate Alipay+ to further enhance the digital payments capabilities of NETS’ local merchants.
The collaboration marks a new milestone in digital payments innovation, bringing benefits to Singapore businesses and global consumers. 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.
Introduced by Ant Group since 2020, the Alipay+ solutions are designed to make it easy for businesses, especially small and medium-sized businesses to accept different payment methods and conduct cost-effective digital marketing campaigns. It also makes it more convenient for e-wallet users to make payments easily away from their home country.
The adoption of Alipay+ solutions is in line with NETS’ efforts to drive payment technology innovation, to create additional revenue streams and strengthen operational efficiency for its merchants. Merchants will be able to accept payments in Singapore currency from Asia’s leading local e-wallet holders who will pay in their home wallet currency. This will enable merchants to serve global customers better whilst providing consumers with access to a wider merchant base.
“The use of QR payment as a form factor has given rise to a fast and cost-efficient way of enabling payments from consumers to merchants. As Singapore progresses to open up the economy eventually, NETS, as the national payments provider is working with partners to lay the groundwork to connect communities and empower small and medium-sized business owners to transact across borders digitally.
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 NETS Group CEO, Mr Lawrence CHAN.
“We are constantly striving to support the digital transformation of the service industry through innovative technology, and we strongly believe in an open ecosystem approach so that our partners can participate fully in the development of digital payments,” said CHENG Guoming, General Manager of Alipay+ Global Payment Partnership, Ant Group, “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.”
Efforts are underway to integrate the Alipay+ solutions into NETS’ merchant portal with the aim to be operationally ready by early 2022.