Aleta Planet, a global payments solution provider based in Singapore, is looking to leverage its Dubai hub as a springboard for expansion into the broader Middle East and Africa, according to its founder.
Ryan Gwee, founder and group chairman of Aleta Planet, emphasized the strategic importance of the EMEA region as an operational center for tapping into Africa and Europe due to its advantageous location and time zone, despite rising costs. In an interview with Khaleej Times, he stated, 'Dubai will serve as the hub for our operational and strategic endeavors to grow our presence in Europe and Africa. In fact, we are in the process of establishing our office in Spain, marking our initial entry into the European market.'
Established in 2014 in Singapore, Aleta Planet offers comprehensive payment technology solutions encompassing merchant acquisition, card issuance, remittance, and B2B payments. Functioning as a global payment facilitator that links diverse payment options, the company specializes in assisting Chinese enterprises in expanding into the global market. Aleta Planet holds a license as a Major Payment Institution from the Monetary Authority of Singapore and operates in various jurisdictions, maintaining offices in Singapore, Hong Kong, Dubai, Australia, and Malaysia. Its secure, internationally certified proprietary platform integrates businesses with the global payment infrastructure through a single Application Programming Interface, driving business growth, enhancing customer engagement, and uncovering new revenue streams.
The company's success in providing a card network-agnostic platform has led to the acquisition of operating licenses from card networks like Diners Club, Discover Network, JCB, MasterCard, Union Pay International Visa, SWIFT, and other Alternative Payment Methods. Additionally, Aleta Planet's extensive network enables individuals and businesses to deposit local currencies in 39 countries or remit funds to 140 countries. Annually, Aleta Planet processes approximately 20,000 cross-border trade transactions totaling over $2 billion, with a group-wide annual growth rate of around 20 percent.
Highlighting the significant potential for business expansion in Dubai, Gwee pointed out, 'China stands as Dubai’s largest trading partner. As Chinese companies continue their globalization efforts, we foresee substantial opportunities to introduce our products here. Our specialty lies in renminbi payments and cross-border supplier payments to and from China, which are vital for Chinese companies as they expand their global footprint, necessitating company registration, bank account setup, and meeting obligations to their suppliers in China for exported goods.'
Furthermore, Gwee identified a burgeoning market for food traceability, for which the company recently launched an app in China. He explained, 'We have leveraged 30 years of fruit and trader data through blockchain and AI to trace the quality, health, ripeness, and illness of 146 types of foods. This enables us to trace these products from farms to supermarkets, significantly minimizing wastage. We are eager to introduce this innovation in Dubai in the near future.'
