The IncentiaPay Novatti partnership will create payments solutions that will support the Alipay platform.
Under the agreement, the companies will offer a solution providing a dedicated interface between Alipay merchants and Chinese consumers.
The move is targeted at supporting access to the Alipay platform for Chinese visitors and students in Australia.
Novatti, an authorised payments partner of Alipay, will utilise its Australian Financial Services Licence, compliance team and merchant settlements platform under the partnership. The aim is to support quick payments to merchants.
Commenting on the tie-up, Novatti CEO Peter Cook said: “It continues Novatti’s growth in Chinese payments, adding to our recently opened bank accounts in China with the Bank of Shanghai to facilitate remittances and the recent partnership with a number of Chinese payment processors to enable marketplace payments in Australia by providing settlement bank accounts for their merchants.”
The partnership will also support online Alipay payments. The emphasis will be on payment of student fees, expenses and council rates, accessed through the China In A Box programme by IncentiaPay.
IncentiaPay CEO Iain Dunstan said: “Merchants supported by this partnership will be promoted in China and in Australia via the Alipay app and through their Discovery Platform.
“This platform accesses 700 million Alipay users in China and will be directly targeting visitors to Australia and those who already live or study here. This represents a significant medium-term revenue opportunity for IncentiaPay.”
The transaction and marketing fees paid by consumers and merchants will be shared by both the parties.