Global cross-border payments firm Thunes has forged an alliance with Alipay+, operated by Ant Group, to enable the former’s European consumers and merchants to accept payments through mobile wallets of Asian companies.
The partnership aims to cover a range of Asian mobile wallets including China’s Alipay, Malaysia’s Touch ’n Go and Boost as well as Philippines’ GCash and South Korea’s KakaoPay. Rabbit LINE Pay and TrueMoney from Thailand are also included.
As part of the collaboration, the network of merchants working with Thunes can cater to online consumers based in Asia. The merchants will also be able to accept payments through mobile wallet during checkout.
Customers are expected to use their own mobile wallets to pay for their in-store shopping across Europe. For this, they have to use a dedicated point-of-sale mobile application, which facilitates QR-code transactions, stated Thunes.
The latest tie-up is set to see the geographical expansion of local means of payment through Thunes, which currently provides various alternative payment methods (APMs) across Europe, Latin America and Africa.
Thunes Collections managing director Christophe Bourbier said: “Thunes partnership with Alipay+ creates a truly global shopping experience for buyers and represents another major step in our mission to make payments borderless and inclusive.
“Mobile wallets are becoming the primary payment method across Asian consumers, and with international tourism demonstrating steady recovery, we expect to see significant demand for this solution from our 100,000 merchants.”
Thunes’ client MyCompañero, a European luxury fashion retailer, has already incorporated the new payment method.
MyCompañero will be able to tap the Asian markets with their preferred choice of payment methods.
In April this year, Thunes announced a collaboration with French fintech company Skaleet.