NETS to Integrate Alipay+ to Enhance Cross-Border Digital Payments Capabilities for Local Merchants

Network for Electronic Transfers (NETS), Singapore’s leading payment services group, and Chinese Internet Giant Ant Group have formed a strategic partnership recently. NETS will integrate Alipay+ to further enhance the digital payments capabilities for its local merchants.

Introduced by Ant Group since 2020, the Alipay+ solutions are designed to make it easy for businesses, especially small and medium-sized businesses to accept different payment methods and conduct cost-effective digital marketing campaigns. It also makes it more convenient for e-wallet users to make payments easily away from their home country.

Through the deployment of the solutions, NETS will be able to facilitate seamless transactions between local businesses and global consumers visiting Singapore, potentially connecting its Singapore merchants with e-wallet users worldwide.

The integration is in line with NETS’ efforts to drive payment technology innovation, to create additional revenue streams and strengthen operational efficiency for its merchants. Merchants will be able to accept payments in Singapore currency from Asia’s leading local e-wallet holders who will pay in their home wallet currency, and to serve global customers better whilst providing consumers with access to a wider merchant base.

Efforts are underway to integrate the Alipay+ solutions into NETS’ merchant portal with the aim to be operationally ready by early 2022.