Enabling Technologies

Allied Wallet Reaches 100 Mn Users, Acquires one of the Largest Chinese Payment Processors

Allied Wallet, a provider of online credit processing and multi currency merchant services, is making strides in the payments world. It was recently voted the #1 payment solutions provider by thousands of readers, entrepreneurs and writers in the U.K according to a survey by ‘Start your Business’ magazine. In the second week of January 2014, Allied wallet reported over 100 Mn users utilizing their online payment solutions. One 21st Jaunuary 2014, Allied wallet announced that it had acquired CloudAsia, one of the largest Chinese payment processors in Hong Kong.

Allied Wallet believes that this move will bolster their growth in Asia. Acquiring the Chinese payment processor will give Allied Wallet more access to local banks and consumers in all regions of Asia including Korea, Indonesia, mainland China and Malaysia. 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 Andy Khawaja, CEO of Allied Wallet. On reaching 100 Mn users, he added “We're glad to see that consumers are using our eWallet solution to protect their payments. We've heard of other payment processors being penetrated and information getting compromised. But with Allied Wallet, we protect customers from fraud and our eWallet solution keeps their sensitive information private.”

Allied Wallet provides customized solutions to service businesses and enables them to sell their products within 24 hours. They will be able to accept MasterCard, Visa, Discover, Diners Club, American Express, China UnionPay, JCB, European Direct Debit, Maestro and ACH payments. All report and account information can then be viewed via Allied Wallet’s reporting and tracking interface.

Allied Wallet recently partnered with Paysafecard, an electronic payment method for online shopping, to enable their merchants to accept yet another payment method for international e-commerce. Paysafecard sees more than 100 transactions per minute with over 55 million payment transactions being processed by them in 2012. Around 450,000 Paysafecard outlets are present around the world and it is accepted by more than 4000 online websites. The company says that it saw a growth of 22% last year.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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