Allied Wallet acquires Chinese payment processor

AlliedWallet

Acquires CloudAsia.

Allied Wallet, a provider of online credit card processing, multi-currency merchant services, and a PCI Level 1 secured payment gateway, has acquired Chinese payment processors in Hong Kong, CloudAsia. 

Allied Wallet began its talks with CloudAsia in mid-2013. 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.

“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.

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