Capital A’s digital arm to form strategic partnership with Ant International to enhance collaboration on digital payments and financial technologies
SHANGHAI – WEBWIRE – Friday, March 29, 2024
MOVE Digital, Capital As digital arm, that encompasses two transformative businesses, AirAsia MOVE (formerly known as airasia Superapp) and fintech venture BigPay, has announced a strategic collaboration with Ant International. The partnership covers various areas, exploring to integrate more payment methods and providing acquiring services to Capital As platforms, work on digital marketing and sponsorship opportunities to drive business growth, and to cooperate in enhancing access to sustainable finance while transitioning to a low carbon economy for the Micro, Small & Medium Enterprise (MSME) community.
Tony Fernandes, CEO of Capital A said, “Were 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 Internationals innovative digital technology solutions and Capital As rich and popular ecosystem, we can better serve the customers in the region and beyond, said Yang Peng, CEO of Ant International.
As part of this strategic partnership, AirAsia MOVE will work with Ant International to explore integrating Alipay+ payment solutions into its platform, allowing users to pay for services using Alipay+. AirAsia MOVE and Ant International will also explore the use of various wallet technologies (Wallet Tech), including super apps and mini-programs within the Alipay+ ecosystem, to enhance user experience.
AirAsia MOVE will leverage Ant Internationals extensive user base to promote its services. This will involve targeted promotions, exclusive deals for Alipay+ wallet users, and increased visibility for AirAsia MOVE within the Alipay+ ecosystem.
The two companies will collaborate on joint marketing initiatives and explore sponsorship opportunities for events like UEFA EURO 2024 Berlin.
Overall, the Strategic Partnerships aims to improve users experience for AirAsia MOVEs services by leveraging Alipay+ payment solutions and user base, while also creating marketing and sponsorship opportunities.
The two sides also agreed that BigPay will become the latest Alipay+ partner wallet to allow its 1.5 million users to pay seamlessly when they travel abroad. It will also explore using Alipay+ Wallet Tech, including fraud prevention and other innovative technologies to develop a more robust payment platform.
Capital A currently offers over 20 different products and services leveraging off each other including the airline group – AirAsia Aviation Group, AirAsia MOVE and BigPay fintech services, serving over 700 million people in the region.
Introduced in 2020, Alipay+ Cross-border Mobile Payment Service now connects over 88 million merchants in 57 countries and regions to 1.5 billion consumer accounts on over 25 e-wallets and banking apps, allowing consumers to travel and pay worry-free globally, and merchants to build out cross-border consumer engagement and digital marketing.
The service builds on Alipay+s extensive regional partnerships, including those with national QR schemes including Singapores SGQR, Malaysias PayNet, South Koreas ZeroPay, Sri Lankas LankaPay and Cambodias KHQR.
Ant International and Capital A will also work together to promote sustainability initiatives such as advancing global digital inclusion, cultivating digital talent and promotion of sustainable travel programs. Alongside this, Capital A has given its commitment to Ant Internationals latest initiative called SIRIUS, which seeks to provide the MSME community with access to sustainable finance that will elevate and uplift this underserved community, said the LOI.
Ant International is dedicated to building a vibrant, sustainable future digital economy with our business partners across the world on the back of our technology strength and cross-sector insights, and I believe our comprehensive partnership with Capital A will achieve greater inclusive impact for the entire society beyond business successes, said Yang.
About Capital A
Capital A (formerly known as AirAsia Group) is an investment holding company with a portfolio of synergistic aviation and travel businesses that leverage data and technology, including the worlds leading low-cost carrier AirAsia, Capital A Aviation Services, AirAsia MOVE (formerly airasia Superapp) and fintech BigPay, as well as logistics venture Teleport. Capital As vision is to create and deliver products and services that focus on offering the best value at the lowest cost, underpinned by robust data accumulated over 20 years in operation and one of Asias leading brands that remains committed to serving the underserved in Asean and beyond.
About Ant International
Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realise their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.
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