Small Malaysian businesses partner with Alipay+ to expand their customer base internationally
In a move aimed at making cross-border transactions easier for businesses of all sizes, Malaysian fintech company Paydibs has entered into a partnership with Alipay. This partnership will allow Paydibs merchants to accept payments from over 15 partner e-wallets and bank apps in the Alipay+ network, including Alipay, GCash, and Kakao Pay.
Tee Kean Kang, Chief Commercial Officer of Paydibs, stated that the partnership is designed to make cross-border transactions simpler, faster, and more inclusive for merchants. He further added that the collaboration aims to provide businesses with wider access to international consumers through Alipay+'s global reach.
The partnership is expected to help SMEs improve conversion rates and compete more effectively in the international market. However, the potential impact on SME conversion rates or competitive advantages is not detailed in the partnership announcement.
Paydibs aims to make cross-border transactions smoother by supporting international wallets and payments in local currencies. This will enable Malaysian SMEs to reach international customers more easily, thereby expanding their business opportunities beyond borders.
The partnership between Paydibs and Alipay+ further expands the options for local merchants, including those serving underserved communities, to engage with overseas customers. The new partnership creates new opportunities for cross-border e-commerce across Southeast Asia and beyond.
However, the partnership does not specify any new e-wallets or bank apps being added to the Alipay+ network, nor does it state any new opportunities for cross-border e-commerce beyond Southeast Asia. Additionally, the partnership does not mention any changes to the local currency support for international transactions.
Paydibs' commitment to merchant-first innovation is a key component of this partnership with Alipay+. The image accompanying this article is an edited version, based on an image by user850788 via Freepik.
This partnership is expected to help merchants grow their businesses beyond borders, providing them with the tools they need to compete in the global market. As the e-commerce landscape continues to evolve, partnerships like this one are crucial in enabling SMEs to thrive and grow.
