Coralpay is to partner Alipay, the world’s largest online and mobile payment platform operated by Ant Financial Services Group, to ease online transactions for Chinese consumers and African merchants starting from Nigeria.
The partnership further expands Alipay’s footprints in Africa and opens the door for its more than 520 million active users in China to make online payments via the CoralPay platform.
In signing this agreement, CoralPay, a payment solution and transaction processing company, plans to work with African banks to enable local e-commerce to welcome more Chinese consumers.
CoralPay has sealed partnership deals with leading banks and Payment Terminal Service Provider (PTSPs) as well as aggregators to serve their customers.
The partnership is coming at a time when Africa has emerged as a preferred destination for Asian investments with continent enjoying high influx of tourists and business travellers.
Speaking at the agreement signing ceremony, which was held in Hong Kong, Chioma Nkechika, CEO CoralPay, assured Alipay users of his company’s ability and capacity to deliver on the African franchise, leveraging on their business network and partnership.
He also stated that CoralPay was well-placed to deliver seamless transactions and thereby help to achieve the expansion required especially as its technical partners are already partnering with Alipay to process transactions in Asia.
Alipay is bringing seamless online payment experience to shoppers in over 200 countries through its partnership with over 450 financial institutions and payment solution providers globally.
Deng Libang, Business Development Director of Alipay International, said he was excited at the partnership, which has opened a new frontier for Alipay customers in Nigeria and Africa.