Alipay

Kakao Pay is the financial technology division of Kakao.  It allows over-counter payments, peer-to-peer transactions, bill payments, web banking, and more, and it will move to offer financial services such as loans and financing. Kakao Pay is a platform that aims for a new financial effortless that is completely different from the existing and difficult and cumbersome finance beyond just cashless and walletless life without cash or wallet.

One97 Communications is a mobile payments services company that delivers mobile content and commerce services to its customers. It offers digital goods and services to mobile consumers under its Paytm brand.  The company has more than 4,500 employees with its headquarters in New Delhi and regional offices in Mumbai, Bengaluru, Pune, Chennai, and Kolkata with a global presence in Africa, Europe, the Middle East, and Southeast Asia. Marquee investors like Alibaba Group, Ant Financial (AliPay), SAIF Partners, Mediatek, Sapphire Venture, and Silicon Valley Bank back it.

Alipay offers a mobile and online payments platform. Launched in 2004, Alipay currently works with over 200 domestic financial institution partners. Over the years, Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Alipay’s in-store payment service covers over 40 countries and regions across the world, and tax reimbursement via Alipay is supported in 29 countries and regions. Alipay works with over 250 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 27 currencies.

Alipay is a mobile payment app and digital wallet originating in China with over 1 billion users across Asia and beyond. It allows users to save their debit or credit card details and make payments via their mobile phones instead of using cash or physical cards. Alipay uses a QR code system where customers can scan merchant QR codes or present their own QR code to pay. It maintains a digital wallet linked to the user's account and uses an escrow system to hold funds until both parties confirm the transaction, typically taking 1-4 business days to complete.

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Digital Wallets

Tinaba Partners with Alipay+ to launch a European super app

Mastercard

Mastercard's partnership with Alipay enhances its cross-border payment solutions, meeting the growing demand for fast, secure, and transparent money transfers.

L'Oreal

To deepen understanding of Chinese travellers' purchasing behaviour and offer seamless shopping, personalized beauty, and mobile integration across global destinations.

JP Morgan Chase

J.P. Morgan supports Alipay to provide card payment services for Alibaba.com in the U.S.

Kakao Pay

Kakao Ventures

One97 Communications

T. Rowe Price

SoftBank

Hana Financial Investment

K2VC

Samba Financial Group

Starbucks

Chinese tourists can find a nearest Starbucks through the in-app Discovery platform, and pay for their drinks in RMB via Alipay.

Alipay is a mobile payment app and digital wallet originating in China with over 1 billion users across Asia and beyond. It allows users to save their debit or credit card details and make payments via their mobile phones instead of using cash or physical cards. Alipay uses a QR code system where customers can scan merchant QR codes or present their own QR code to pay. It maintains a digital wallet linked to the user's account and uses an escrow system to hold funds until both parties confirm the transaction, typically taking 1-4 business days to complete.
Alipay has expanded globally through partnerships and is now accepted by over 88 million merchants in 57 countries/regions as of 2024. It launched the Alipay+ solution in 2020 to connect e-wallets and enable cross-border QR payments. Alipay+ connects over 25 partner wallets allowing their users to make QR payments at Alipay+ merchants worldwide using their local e-wallet. In 2023, it partnered with Singapore's Changi Pay digital wallet to enable Changi Pay users to pay at merchants in China via Alipay+.
Alipay utilizes advanced encryption, real-time risk monitoring, and security protection frameworks to ensure safe transactions. Alipay+ aims to expand its merchant coverage globally, seeing opportunities in regions with rising tourist numbers like the Middle East and Europe as of 2024. The company explores integrating digital currencies in the future but remains compliant with regulations currently.

Dwolla is a leading provider of payment services specializing in account-to-account (A2A) payments. The company offers an innovative API solution called Dwolla Connect, designed for mid to enterprise-sized businesses. Dwolla Connect simplifies the process of replacing legacy, batch-based technology with modern infrastructure, enhancing the management and reconciliation of payments across multiple financial institutions. With Connect's bank-agnostic approach, businesses can leverage their existing commercial accounts at top US banks, including JPMorgan Chase & Co. and Wells Fargo, to effortlessly initiate payments by embedding Dwolla's API into their existing applications and payment flows.
Dwolla Connect serves a wide range of industries, such as financial services, lending, banking-as-a-service, marketplaces, and insurance, among others. Its API-first approach enables businesses to effortlessly integrate A2A payments into their apps or connect with existing ERP/cash management systems, offering a centralized location for payment information. Dwolla Connect provides substantial time and cost savings by allowing businesses to embed a single API, avoiding multiple bank integrations and simplifying their treasury management.
Over the years, Dwolla has expanded its offerings, introducing products like Dwolla Balance, a digital wallet solution, and exploring new payment methods and value-added services. The company has partnered with industry leaders like MX, a leader in open finance APIs, and Mastercard to enhance its payment capabilities and offer consumers more choice in managing their money.

Dwolla

Papaya is a SaaS fintech company that provides global payroll and payments technology through its comprehensive platform called Papaya Payroll OS. The platform automates payroll processes, ensures compliance, offers flexibility, and provides robust security features. Papaya's integrated approach connects data and processes from various HR and enterprise resource planning (ERP) tools, creating a single source of truth. This turns payroll, a company's biggest expense and liability, into a strategic asset that enables growth at scale.
One of Papaya's key offerings is a personal portal that empowers employees with convenient access to their payroll financial information. In March 2023, the company introduced a mobile app as part of this portal, allowing employees to securely view and manage their payslips, work-related documents, and bank account details on the go. This app caters to the growing trend of employees accessing payroll information via mobile devices, with 53% of employees doing so as of March 2023.
Papaya's technology has been recognized by leading global analysts for its disruptive approach in workforce management and payments. The company has received accolades such as being included in the Forbes Cloud 100 and CNBC's Top Startups for the Enterprise.

Papaya

Citcon is a leading global payment gateway and service provider, offering innovative solutions that enable businesses to accept payments from consumers using various mobile wallets, payment apps, and methods. The company's technology empowers merchants to expand their customer base and streamline the payment process, enhancing the overall shopping experience. Citcon's platform allows merchants to securely process millions of payment transactions daily from over 200 payment methods, including popular digital wallets like Alipay, WeChat Pay, PayPal, and Venmo.
Founded in 2015, Citcon pioneered as the first authorized US merchant acquirer for WeChat Pay and Alipay, two of the most widely used mobile wallet providers in China. Over the years, the company has expanded its partnerships to include more than 20 global wallet providers, reaching over 2 billion mobile wallet users worldwide. Citcon's technology integrates seamlessly with various point-of-sale (POS) and ecommerce systems, making it accessible to merchants across diverse industries.
Citcon's solutions cater to the needs of businesses of all sizes, from Fortune 1000 companies like L'Oréal, Hermes, and Nordstrom to major retailers such as Macy's, Caesars Entertainment, MGM Resorts, and Revolve. Its platform is deployed at over 30,000 merchant sites and locations globally.
In October 2021, Citcon closed a USD 30 million Series C funding round, backed by leading global investors such as Norwest Venture Partners, Cota Capital, Sierra Ventures, Sonae, and East-West Bank. The company has expanded its presence with regional offices in the US, Canada, Europe, and Asia to serve its global clientele better.
Citcon has also diversified its offerings to include cryptocurrency payments. In May 2021, the company partnered with Flexa, a leading pure-digital payments network, enabling merchants worldwide to accept cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Dogecoin as payment options.

Citcon

PayNearMe is a leading bill payment platform provider that enables unbanked consumers to make cash payments for various services. The company's technology generates a barcode that consumers can take to participating merchant locations within their vicinity. At the store, customers scan the barcode, provide cash to the cashier, and receive a receipt confirming the payment. This innovative solution solves the challenge of accepting cash payments in an increasingly digital world.
PayNearMe's platform supports multiple payment methods, including cash, credit/debit cards, and bank accounts. The company has built an extensive merchant network of over 40,000 retail locations across the US, including partnerships with major chains like Walgreens, CVS Pharmacy, Walmart, and Family Dollar Stores. By March 2022, PayNearMe had expanded its network by nearly 50% over the previous 12 months, with the addition of nearly 9,000 Walgreens and Duane Reade locations.
PayNearMe offers a seamless payment experience for customers while enabling businesses to increase foot traffic and potential incremental sales. The company focuses on partnering with convenience stores, dollar stores, grocers, and pharmacies, as these merchant categories align well with their business model.

PayNearMe

Paydiant was a company that provided a cloud-based white-label mobile wallet platform enabling merchants and banks to deploy their own secure mobile wallet solutions under their brand names. Its patented technology allowed merchants to integrate mobile wallet functionality, including mobile payments, loyalty programs, offers, and e-receipts within their existing mobile apps.
The platform assisted merchants in acquiring new customers and increasing sales by delivering targeted offers and personalized loyalty programs directly to consumer mobile devices. Payment credentials were never stored on users' phones but instead securely held in a PCI-compliant data center, enhancing transaction security.
Paydiant's flexible platform supported various payment instruments like debit, credit, gift, and private-label cards while providing valuable insights into customer spending behavior. It facilitated seamless integration with existing point-of-sale systems across popular smartphone models, eliminating hardware upgrade requirements. The company's technology was compatible with emerging standards like Bluetooth Low Energy (BLE).
In March 2015, Paydiant was acquired by PayPal to bolster the latter's in-store mobile payment capabilities and enable merchant partners to build branded mobile wallets integrated with PayPal's services.

Paydiant

These enable users to utilize their wallets for various transactions at virtually any merchant that accepts digital wallet payments without any restrictions on usage.

These enable users to carry out transactions at a selected list of merchants and locations. Merchants may need to set up predefined agreements with digital wallet issuers to accept payments from the wallet.

These are typically developed by merchants themselves and allow customers to use their wallets to make payments at the merchants’ own stores. Users are unable to use these wallets for transactions outside the issuing merchant.

Companies that offer white-label solutions for businesses and fintechs to set up their own digital wallet offering.

Leverages AI/ML to conduct various AML/KYC checks on customers and transactions processed through digital wallets

Alipay

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