RippleNet member has partnered with Ant Group to bring innovation to digital payments in Southeast Asia
RippleNet member 2C2P has signed a strategic partnership with Ant Group, the parent company of Alipay, according to a recently released press release. Together, the two companies intend to expand adoption and innovate in the field of digital payments in Southeast Asia.
When the partnership is completed, Ant Group will become the majority shareholder of 2C2P. The former is an affiliate company of the Chinese giant Alibaba Group.
Ant Group partners with RippleNet client
As part of the partnership, according to the press release, 2C2P’s merchant pool will connect to Alipay, expanding the 250 payment options the RippleNet client currently uses to many more e-wallets and payment options used in South East Asia.
This will allow merchants to access more than a billion customers around the world easily.
The managing director of 2C2P, who also founded it, Aung Kyaw Moe, said that in recent years, the development of digital payment has increased quite rapidly, and in Asia in particular, payments via mobile wallets are become popular. According to him, the partnership with Ant Group will allow the company to develop internationally.
2C2P’s headquarters is based in Singapore. It operates in key Asian markets, including Malaysia and Thailand.
2C2P joins RippleNet
In 2020, 2C2P’s regional remittance venue in Southeast Asia, called easy2send, introduced a new payment corridor that started in Thailand and ended in Singapore. It was built in collaboration with Nium and its giant fintech partner Ripple based in San Francisco, California.
Easy2send emerged in 2019 and it supported money transfers to Myanmar and Cambodia from Thailand. Now, it is also expanding to other parts of Southeast Asia.
During the partnership launch, 2C2P Thailand CEO Piyachart Ratanaprasartporn said that the company’s partnership with Nium and Ripple will allow easy2send to make cross-border payments more efficiently.
