Tuesday, May 21, 2024
Editor's PickMalaysian Islamic fintech aspirant partners with Ant International to boost sustainable finance...

Malaysian Islamic fintech aspirant partners with Ant International to boost sustainable finance for MSMEs

Capital A, formerly known as AirAsia Group, has collaborated with Ant International through its digital arm to explore synergies in digital payments and MSME fintech solutions.

The partnership will see MOVE Digital – comprising AirAsia MOVE (formerly known as airasia Superapp) and BigPay – explore integrating payment methods and providing acquiring services to Capital A’s platforms as well as work on digital marketing and sponsorship opportunities in addition to improving access to sustainable finance while transitioning to a low-carbon economy for MSMEs.

“[Ant International’s] global recognition as a financial technology powerhouse, coupled with their unparalleled expertise, is poised to propel rapid growth for our fintech venture BigPay and our online travel app AirAsia Move,” said Tony Fernandes, CEO of Capital A. “Both entities are dedicated to agile expansion, and this partnership promises to accelerate our collective mission of providing seamless financial services and affordable travel experiences to our customers worldwide.”

Pay it forward

More specifically AirAsia MOVE will work on integrating Alipay+ payment solutions on its platform as well as explore the use of wallet technologies, including super apps and mini programs within the Alipay+ ecosystem.

In addition, BigPay will become Alipay+ partner wallet, allowing its 1.5 million users another option to pay when traveling. BigPay will also consider using the Chinese tech giant’s wallet tech, including fraud prevention.

BigPay continues to express intentions to become Shariah compliant or at least, offer Shariah compliant financing solutions.

Sustainable finance

Together, Capital A and Ant International have committed to promote sustainability initiatives including enhancing global digital inclusion, cultivating digital talent and promoting sustainable travel programs. Capital A will be joining Ant International’s SIRIUS initiative, which seeks to provide MSMEs with access to sustainable finance.

“Ant International is dedicated to building a vibrant, sustainable future digital economy with our business partners across the world on the back of our technology strength and cross-sector insights, and I believe our comprehensive partnership with Capital A will achieve greater inclusive impact for the entire society beyond business successes,” said Yang Peng, CEO of And International.


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