|[January 21, 2014]
Allied Wallet Acquires One of the Largest Chinese Payment Processors
LOS ANGELES --(Business Wire)--
Allied Wallet, a top provider of online
credit card processing, multi-currency merchant services, and a PCI (News - Alert)
Level 1 secured payment gateway, has acquired one of the largest Chinese
payment processors in Hong Kong, CloudAsia.
Allied Wallet began its talks with CloudAsia in mid-2013 and took note
of CloudAsia's exemplary growth in Asia. CloudAsia quickly picked up
e-commerce merchants all over Asia with a service that Allied Wallet
considers very similar to their own in quality.
Allied Wallet has acquired the fast-growing Chinese
payment processor and believes this will stimulate their growth in
Asia. Acquiring the Chinese payment processor will give Allied Wallet
more access to consumers and local banks in all regions of Asia
including Indonesia, Korea, Malaysia, and mainland China.
Allied Wallet has connected buyers and sellers globally by making it
simpler for them to transact. With their global relationships, they've
enabled users to securely spend or accept in 164 currencies. With this
acquisition, Allied Wallet will now offer their solution to millions of
new users throughout Asia.
"We're happy to acquire a company that has had the level of success of
CloudAsia, and we are excited to bring our solution to millions of new
merchants across Asia. There are over 538 million internet users in
China alone and we will be giving them a safer, better way to pay
online," said CEO Andy Khawaja.
With over 2.3 Billion China UnionPay cardholders in Asia and abroad,
Allied Wallet is sure to see exponential success in this region with
their recent acquisition and bring a state-of-the-art payment solution
to new merchants and CloudAsia's previous clientele.
About Allied Wallet:
Allied Wallet continues to revolutionize the e-commerce industry by
introducing new and innovative payment processing solutions for online
merchants, enabling them to send and receive global payments. With PCI
compliant merchant services for nearly any business size, Allied Wallet
provides a state-of-the-art payment gateway to optimize online
transactions. Please visit www.alliedwallet.com/acquires-cloudasia.
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