One of the biggest online and mobile payment platforms in the world, Alipay, has announced a strategic alliance with Splitit Payments (OTCQX: SPTTY).
As a result of the partnership, AliExpress, a global eCommerce marketplace owned by the Alibaba Group (NYSE: BABA), will now offer customers a ’Pay After Delivery’ option, which will be powered by Splitit.
With plans to eventually expand into other international markets, the service will initially be introduced in Germany, France, and Spain.
With the help of Checkout.com’s payment-acquiring capabilities and Splitit’s adaptable technology platform, AliExpress customers can pay for their orders with their current credit cards after delivery.
Pay on delivery
Pay on Delivery, a new instalment service, gives customers a more practical and flexible payment option by allowing them to pay for goods after they have been delivered.
The collaboration makes use of Splitit’s Instalments-as-a-Service platform to build a distinctive user experience that is integrated into the AliExpress checkout process. The seamless integration of the service into the platform will be facilitated by AliExpress’s global payment solution partner, Alipay.
“Our work with Alipay is a testament to the flexibility of Splitit’s platform and the strength of our new partnership with Checkout.com,” Splitit chief executive officer Nandan Sheth said.
“Together, we are providing a valuable resource for sellers and shoppers by powering payment after delivery.
“We are thrilled to collaborate with two exemplary companies like Alipay and Checkout.com. I look forward to building on this initial launch by expanding into other markets in the future,” Mr Sheth added.
AliExpress European commercial director Topp Gary Paul added his thoughts on the collaboration, saying, “Splitit was able to provide a solution that addressed our needs to deliver a modern pay-after-delivery option for AliExpress consumers.
“Splitit’s white-label approach allows us to easily customise and integrate the service into our platform while delivering a positive experience for sellers and shoppers,” he said.
The agreement between Splitit and Alipay is effective immediately and will last indefinitely, unless it is terminated earlier due to a breach of the terms of the agreement or financial instability, in which case either party must give the other at least 30 days’ written notice of non-renewal.