Alibaba Group partners with international payments platform WorldFirst

|

Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Alibaba Group has confirmed a new partnership with WorldFirst as part of a push to help small and medium-sized businesses in Singapore get paid efficiently.
  • WorldFirst will also provide a variety of other services to e-commerce merchants, including the setting up of online stores and marketing.
  • “Our partnership with Alibaba.com is a testament to our shared commitment to helping local SMEs thrive online as well as offline, and benefit from the huge opportunities that exist in the international market,” said a spokesperson for WorldFirst.

Alibaba Group, a leading B2B marketplace based in China, has confirmed a new partnership with a cross-border payments platform.

The company’s site, Alibaba.com, will work with payments platform WorldFirst as part of a push to help small to medium-sized enterprises in Singapore.

WorldFirst will help eligible companies to grow their digital presence.

It will also power sales for Alibaba.com and grant Singapore-based e-commerce merchants access to over 25 million buyers in more than 200 nations.

In addition, WorldFirst will also advise small firms on how to improve their access to Alibaba.com, and how they can benefit from using the site.

It will provide advice on everything from the setting up of online stores to registration and marketing plans.

It has also promised to provide speedy and cost-efficient international money transfers.

WorldFirst, which is based in London, was set up in 2004, but has since been bought by Ant Group, an affiliate of Alibaba.

In a statement, WorldFirst’s country manager for Singapore pointed out that Singapore’s export levels were still up – even after the pandemic.

Peter Scully argued that the new partnership opened the door for this to be enhanced even further.

“Singapore’s exports have remained resilient amid the uncertainties and will continue to ride on the global trade recovery, and our timely partnership will allow WorldFirst and Alibaba.com to connect Singapore’s dynamic SMEs to millions of potential buyers across the world,” he said.

He added that the two companies shared a commitment to empowering local small and medium-sized firms.

“Our partnership with Alibaba.com is a testament to our shared commitment to helping local SMEs thrive online as well as offline, and benefit from the huge opportunities that exist in the international market.”

The deputy general manager of Alibaba.com, Andrew Zheng, said that the company had long since acted to ensure that merchants had what they needed.

“Alibaba.com has always been committed to supporting Singapore’s SME exporters with our digital solutions and this new partnership with WorldFirst will further expand our offerings to them to include digital cross-border payment tools,” he explained.

If you would like to get all the latest on the workings of the online money transfer sector, just head over to our reviews pages to find all the information you might need.


Most Read

Use Our Currency Comparison Tool

Results are ranked in order of the best overall deal, taking into account transfer times, rates, fees, and customer service.

Editor's Choice

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.