AWC, Ant Group Partner for Wide-ranging Initiatives to Enable Seamless Cross-border Payments for Consumers, Businesses
9.8.2023 05:00:00 EEST | Business Wire | Press release
Asset World Corp Public Company Limited or AWC, Thailand’s leading integrated lifestyle real estate group, and Ant Group, a global digital technology provider, have signed a memorandum of understanding (MoU) to launch various cross-border payment and digital financial solutions catered to the needs of AWC’s different businesses across hospitality, retail, wholesale and commercial, benefitting consumers, merchants and small businesses.
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Mrs. Wallapa Traisorat, AWC CEO and President, and Clara Shi, Vice President of Ant Group and Head of WorldFirst, signed the MoU in Bangkok (Photo: Business Wire)
Mrs. Wallapa Traisorat, AWC Chief Executive Officer and President, says, “With our vast and diverse real-estate portfolios in lifestyle hospitality, office buildings, Retail malls and wholesale centers in Thailand, AWC is strategically positioned to collaborate with industry-leading technology providers like Ant Group. Together, we can create seamless cross-border transaction experience for consumers and business operators globally, which can help drive the digital transformation of the real-estate industry in Thailand.”
One of the key initiatives under this collaboration is the implementation of WorldFirst cross-border business payment solutions for "PhenixBox," AWC's omnichannel online platform that processes trade activities from offline to online at its wholesale centers. By the end of 2023, AWC plans to enable local buyers, including SMEs, in Thailand to place orders and make payments in Thai Baht to global sellers, while enabling the sellers to collect payments in various major trade currencies.
WorldFirst, part of Ant Group, is a one-stop digital payments and financial services platform for SMEs engaged in cross-border trade. Through one World Account, WorldFirst customers will have the convenience of opening up to 14 local currency accounts online within minutes, enabling them to receive cross-border payments and manage funds from over 100 global marketplaces all through a single online portal. By partnering with 1688.com and other leading wholesale e-commerce platforms in China, WorldFirst is also the go-to payment channel for global merchants seeking a diverse range of cost-effective products from China.
Clara Shi, Vice President of Ant Group and Head of WorldFirst, says, “The partnership with AWC underscores the significance of effortless global payments for businesses, as it is the key to their success in today's interconnected world. By leveraging cutting-edge technology, Ant Group has created a comprehensive suite of cross-border payment solutions that removes barriers and streamlines cross-border transactions. We are committed to helping businesses confidently engage with partners, suppliers, and customers across borders through our omni-channel payment and financial services.”
Through Alipay+, AWC’s network of hospitality and retail businesses will be able to accept cross-border payments from leading Asian mobile wallets. This includes upscale hotels managed by leading global hotel chains and trendy malls such as Asiatique, in popular tourist destinations like Bangkok, Chiang Mai and Phuket. At these locations, international visitors can simply pay with their home local mobile wallets, eliminating the hassle of currency exchange and concerns about hidden fees.
Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach 1 billion regional and global consumers, through one-time integration and simple technical adaption. Currently, four mobile wallets are accepted in Thailand through Alipay+, including Alipay from Chinese mainland, AlipayHK from Hong Kong SAR, Touch ‘n Go eWallet from Malaysia and Kakao Pay from South Korea.
2C2P, a full-suite payment platform provider and strategic partner of Ant Group, will support the partnership between AWC and Ant Group.
About Asset World Corp Public Company Limited
Asset World Corp Public Company Limited (AWC) is Thailand’s leading integrated lifestyle real estate group and a member of TCC Group, with the focus on hospitality, lifestyle destinations, and commercial workspaces. Driven by the philosophy of “Building a Better Future,” AWC strives to grow and expand beyond the norms with a diverse array of quality projects, providing responsible and sustainable solutions for all our stakeholders. The company has two main businesses. Hospitality business managed by top hotel executives of world-renowned hotel brands such as Marriott, The Luxury Collection, Okura, Banyan Tree, Hilton, Sheraton, and Melia, and Commercial properties whose projects include 1) Retail and Wholesale such as lifestyle travel destinations, community shopping malls, community markets, and wholesale business real estate. Popular real estate projects consist of Asiatique the Riverfront Destination, Gateway at Bangsue, AEC Trade Center – Pantip Wholesale Destination, and Tawanna Bangkapi, and 2) Commercial buildings including the famous ‘The Empire’ Tower and Athenee Tower located in Bangkok’s central business district. AWC is committed to integrating its sustainability strategy in every part of its operations to create long-term sustainable value for all stakeholders. The sustainability strategy consists of three key pillars: Better Planet, Better People and Better Prosperity, while the framework has created numerous long-term initiatives including the ReConcept, The GALLERY and other projects. For more information, please visit the company's website at www.assetworldcorp-th.com/en/home.
About Ant Group
Ant Group aims to build the infrastructure and platforms to support the digital transformation of the service industry. Through continuous innovation, we strive to provide all consumers and small and micro businesses equal access to digital financial and other daily life services that are convenient, sustainable and inclusive.
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Contact information
AWC Media
Yuwadee Thavornchaisophon, Head of AWC Communications, yuwadee.t@assetworldcorp-th.com
Moke Promma, Corporate Communication Manager, moke.p@assetworldcorp-th.com
Partisar Poolthong, Corporate Communications Officer, partisar.p@assetworldcorp-th.com
Ant Group Media
Martin Mou, mouxu.mx@antgroup.com
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