Capital A and Ant International team up to elevate travel and financial experiences

Malaysia’s Capital A and Ant International have formed a strategic partnership to explore the integration of additional local payment methods and provide orchestration services to Capital A's platforms.

Capital A has cited UN Tourism (UNWTO)'s data that the international tourism receipts reached US$1.4 trillion in 2023, about 93% of the US$1.5 trillion earned by destinations in 2019. Meanwhile, the total export revenues from tourism are estimated at US$1.6 trillion in 2023, almost 95% of that in 2019. It shows that the global tourism sector has shown a strong rebound and continued resilience since last year.

The partnership covers collaborative initiatives between Ant International's Alipay+ cross-border payment, marketing and digitalisation technology solutions, payment orchestration services, and other business segments, and businesses under Capital A, including its airlines AirAsia, its super app AirAsia MOVE, and finance app BigPay.

As part of the partnership, AirAsia MOVE will work with Ant International to integrate Alipay+ e-wallets as payment options within the MOVE’s payment flows, and explore the use of various wallet tech including super app-related solutions as well as develop mini-programme within Alipay+ ecosystem.

Furthermore, AirAsia MOVE will work with Ant International and its partners in leveraging its user base to promote AirAsia MOVE’s services. This may involve targeted promotions, exclusive deals for Alipay+ partner wallet users, and cross-platform visibility for AirAsia MOVE’s services within the Alipay+ ecosystem. AirAsia MOVE and Ant International will also work on joint marketing and sponsorship opportunities for events such as UEFA EURO 2024.

The two sides have also agreed that BigPay will become the latest Alipay+ partner wallet to allow its users to be able to pay seamlessly when they travel abroad. It will also explore using Alipay+ Wallet Tech, including fraud prevention and other innovative technologies to develop an even stronger super app. 

Meanwhile, AirAsia will leverage Ant International’s airline controller orchestration solution to drive payment efficiency, and work with Ant International to enable acceptance of payment methods for online, offline and in-flight checkout. 

Additionally, Ant International and Capital A will work together to promote sustainability initiatives such as advancing global digital inclusion, cultivating digital talent and promoting sustainable travel programmes, as the two companies agreed.

Tony Fernandes, CEO of Capital A said, "We're thrilled to embark on this transformative journey with Ant International. Their 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 (OTA) AirAsia MOVE. 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. 

Yang Peng, CEO, Ant International said, “We are very excited to join hands with Capital A to start a new chapter of cross-industry digitalisation, building on the strong synergy between us. By leveraging Ant International’s innovative digital technology solutions and Capital A’s robust global ecosystem, we can bring more seamless services and diversified growth pathways for consumers and businesses in the region and beyond.” 

“Ant International is dedicated to building a vibrant, sustainable future digital economy with our technology and cross-sector expertise. We look forward to expand our partnership with global industry leaders such as Capital A, to improve the way people and commerce move around the world, and build closer bonds between communities,” Yang added. 

MARKETING-INTERACTIVE has reached out to Capital A for more information. 

Don't miss: Capital A International to be publicly listed in the US following US$1.15b deal

Back in February, Capital A finalised a US$1.15 billion deal to list its management unit Capital A International (CAPI) in the United States (US) public markets. This follows a merger with a special purpose acquisition company (SPAC) called Aetherium Acquisition. 

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