Alipay+ Breaks Into the Middle East: launches in Saudi Arabia

In a move that underscores its ambition to penetrate new markets, Alipay+ Payment Tech announced its participation in Seamless Saudi Arabia 2023, taking place on September 4th and 5th. Operated by Ant Group, Alipay+ Payment Tech offers a comprehensive suite of e-wallet solutions aimed at quickly enabling the creation of cutting-edge e-wallet apps. Marking its debut in the Middle East, the company aims to showcase an array of services that could potentially shake up the regional fintech landscape.

Seamless Saudi Arabia is no small affair—it’s the country’s most significant event focusing on the ever-evolving world of payments, fintech, retail, e-commerce, home delivery, and digital marketing. Alipay+ plans to pull back the curtain on its digital wallet, digital lending, super app capabilities (mini-programs), card acquiring, and anti-fraud solutions. Additionally, the company will introduce its professional training and talent development program, essentially serving as a one-stop shop for fintech solutions.

The digital wallet solution is designed to help businesses roll out their e-wallet apps at lightning speed. This offering comes with a plethora of online and in-store payment features, as well as marketing tools like registration bonuses, referrals, direct discounts, and voucher systems. The objective? To increase user engagement, enhance brand recognition, and foster customer loyalty. All these bells and whistles are safeguarded by a robust risk management and Anti-Money Laundering (AML) system, built on cloud-native technical infrastructure suitable for mobile-internet-oriented businesses.

But that’s not all. Alipay+ also brings to the table its ‘mini-program’ capability, allowing e-wallet apps to build an open ecosystem around their payment services. By doing so, individual users can enjoy a broader range of services without downloading multiple apps, while merchants can operate digital businesses within these super apps.

In the digital lending sphere, Alipay+ has a Loan Management System (LMS) and a Credit Risk-Decision Engine (CRE). These technologies help e-wallet apps develop Buy-Now-Pay-Later (BNPL) and cash loan products, tailored to meet a wide range of consumer credit needs. Essentially, it’s an integrated platform that enables businesses to manage loan services and assess credit risks more efficiently.

Recognizing the critical role of anti-fraud measures in the payment industry, Alipay+ also provides solutions designed to handle comprehensive security risks, meeting the operating and marketing needs of e-wallet apps. On top of all this, Alipay+ will reveal technical solutions for developing products for public good, like the Alipay Ant Forest, a card acquiring solution to meet traditional payment needs, and a professional training program in partnership with the 10×1000 Tech for Inclusion initiative.

Li Zhixian, Senior Director of Alipay+ Payment Tech at Ant Group, shared his excitement about entering the fast-growing Middle East market, which has a burgeoning demand for inclusive financial services. “Alipay+ Payment Tech is ready to provide its diversified solutions and services as well as share its rich experiences on the global payment eco-system with local partners,” he said.

In recent years, Alipay+ Payment Tech has made significant inroads internationally, serving major clients like GCash in the Philippines, Touch ‘n Go in Malaysia, DANA in Indonesia, and TrueMoney in Thailand. Notably, the company aided South Africa’s Vodacom in launching the VodaPay Super App in 2021, contributing to financial inclusion and economic growth in the region.

Seamless Saudi Arabia 2023 promises to be a melting pot of ideas, innovation, and opportunities. With its participation, Alipay+ Payment Tech is not just setting foot in the Middle East; it’s leaping into a market brimming with potential. Will this be a mirage in the desert or the beginning of a lush, innovative oasis? Only time will tell.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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