Aleta is set to work with Visa and Japan’s Sanrio in India
Aleta, a Singapore fintech that is putting the beloved Hello Kitty and other Sanrio characters on payment cards, is eyeing India as part of its South Asia expansion. It is seeking to work with licensed parties in enabling innovative payment solutions and has hired a senior Indian accounts director to explore partnerships.
“Aleta wants to tap the Indian opportunity, especially as the Middle East where Aleta has operations and Singapore, its headquarters, are major hubs for Indian expatriates and migrant workers,” Aleta’s Founder and Group Chairman Ryan Gwee said on 19 June.
Aleta is set to use its Singapore model of partnerships with Visa and Japan’s Sanrio for business development in the Indian market.
“We are in several markets in the region and we definitely want to tap the Indian opportunity, which is huge. The Sanrio characters cut across all geographic, cultural, language and demographic barriers. They are universally and enduringly well loved by all,” he said.
Gwee said that Aleta is happy to partner with licensed entities in India to set up plug-and-play issuance, payment and compliance infrastructure for Visa debit cards. “We can help them launch within days,” he added.
The company, set up in 2014, will release 9,000 physical and virtual Sanrio characters Visa debit cards on 22 June. The first character is Cinnamoroll, the charming white puppy known for his long floppy ears and blue eyes, followed by Hello Kitty and Kuromi in August and November.
Aleta is keen to use its Singapore model of partnerships with Visa and Japan’s Sanrio for business development in the India market, added Gwee, whose company is already active in the Middle East.
Sanrio’s characters introduced Japanese kawaii (cuteness) culture to Southeast Asia long before the office set up shop in India last month. AZORTE, a premium fast fashion and format company of Reliance Retail, launched India’s first Hello Kitty store last month (8 May), coinciding with Sanrio’s first office in the country in Mumbai. AZORTE plans to open 40 stores across the country.
Sanrio said in a media release: “We are delighted to partner Aleta in this exciting collaboration. In line with our philosophy of ‘One World, Connecting Smiles,’ we are delighted that we can bring joy to Sanrio fans through an innovative fintech product, moving beyond traditional merchandise to create a new kind of meaningful connection. We look forward to seeing fans across the region collect, share and celebrate their favourite characters through Aleta Adventure.”
Adeline Kim, Visa, Group Country Manager, Regional Southeast Asia and SVP, Global Clients and Acquirers, Asia Pacific, said: “Strong brands and the fan communities behind them have the power to turn everyday moments into meaningful connections.
“With Aleta Adventure, we’re bringing together the trust, security and global acceptance of Visa with the emotional pull of Sanrio’s beloved characters to create a payment experience that feels more personal, playful and memorable. It shows how payments can go beyond utility to tap into the passion of an existing fan base, deepen brand affinity and give consumers new ways to connect with the brands they love every day.”
Gwee expects high adoption rates for Aleta Sanrio characters Visa debit cards, given its collectability among fans and the companion app’s QR code scanning ability anywhere Visa is accepted. In China, the Aleta Sanrio debit cards can be used to make payments through scanning WeChat QR codes.
“India has the potential to become one of the biggest markets for Sanrio. In the next five years, it will be one of the top three markets in the world and from there onwards, I am expecting a double-digit growth year-on-year,” said Silvia Figini, Sanrio’s Chief Operating Officer for EMEA, India, Oceania. Fiinews.com
