Ant Group acquires majority stake in Singapore payments platform 2C2P

2C2P, a global payments platform and Ant Group announced a strategic partnership to accelerate digital payment adoption and innovation.

The partnership, upon completion, will see Ant Group becoming the majority shareholder of 2C2P.

Through the strategic partnership, 2C2P’s extensive pool of merchants inclusive of global and regional brands will be connected with Alipay+, extending its current 250 payment options offering to include even more e-wallets and local payment methods. With this, merchants will benefit from a wider geographical reach, connecting seamlessly to over one billion consumers globally.

“Digital payment adoption has accelerated rapidly in recent years, spurred by the pandemic, with mobile wallet payments widely gaining momentum across Asia. Through this complementary partnership with Ant Group, 2C2P will be connected to a much larger merchant base and be well-positioned to advance our international expansion strategy. I am confident that 2C2P will be able to scale new heights, and build an unparalleled and robust range of payment solutions that will deliver maximum value and impact to our merchants and partners,” said 2C2P founder and CEO Aung Kyaw Moe.

“Combining Alipay+ and 2C2P’s secure and comprehensive payment offerings, extensive merchant coverage and deep local knowledge of the region, this partnership is a win-win collaboration built on strengths and the shared vision to accelerate the digital transformation for businesses through innovation and best-in-class payments solutions,” said Angel Zhao, President of Ant Group’s International Business Group.

On the back of the partnership, 2C2P plans to further expand its global merchant coverage, in addition to strengthening its technology and product capabilities to better serve merchants across Southeast Asia and globally.

2C2P is a full-suite payments platform headquartered in Singapore, with a strong presence across key markets in Asia including Thailand, Singapore and Malaysia. A market leader in the Southeast Asian payments industry, 2C2P offers payment acceptance, issuing, pay-out, as well as other value-added solutions and services to merchants across verticals such as e-commerce, financial services, airlines, travel, hospitality, and retail, all of which are rapidly digitalising their operations since the onset of the pandemic.

Introduced by Ant Group in 2020, Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach regional and global consumers. Leading e-wallets supported by Alipay+ include Touch ‘n Go eWallet (Malaysia), KakaoPay (South Korea), GCash (Philippines), Alipay HK (Hong Kong) and more.