Payment platform Alipay sets its sights on Europe

AlipayAlipay, now the world’s largest online and mobile payment platform, operated by Ant Financial Services Group, has announced a series of partnerships with some of Europe’s largest financial institutions and a leading payments-service provider to provide Alipay’s 450 million active users with more opportunities to use its services across Europe.

The partnerships with BNP Paribas, Barclays, UniCredit, and SIX Payment Services will enable an additional 930,000 merchants to join Alipay’s European network. Alipay users will be able to conduct transactions at points of sale via the barcode-scanning method they are used to in China.
Alipay will work with:

  • BNP Paribas to facilitate Alipay payments via the bank’s merchant network in France, and later elsewhere in Europe.
  • Barclays to provide Alipay customers with digital ways to pay in the U.K. and elsewhere in Europe. A later phase of the partnership would see Alipay customers being able to pay using Barclaycard’s point-of-sale (POS) solution.
  • SIX Payment Services, the pan-European payments provider, to integrate Alipay services into SIX’s payment application, facilitating POS and e-commerce payments for Alipay users throughout the SIX network.
  • UniCredit to launch Alipay in Italy next year.

“We are partnering with leading European financial institutions to enable our users to pay with Alipay in even more locations and scenarios across Europe,” comments Douglas Feagin, Senior Vice President of Ant Financial and President of Alipay International. “Our users’ lifestyles are increasingly global, so it’s vital we are able to work with the leading payment providers across the world to bring our trusted and convenient services to Alipay users wherever and whenever they need them. We already have partnerships with some of Europe’s most well-known retailers, which have proven extremely popular with traveling Chinese consumers. By working with financial institutions who already have a massive footprint in Europe, we are taking our presence in the continent to the next level.”

In addition to a variety of offline scenarios, users can now pay with Alipay in locations including Harrods, Selfridges, Printemps and Munich Airport, one of ten airports worldwide to have joined Alipay’s “Future Airport” program, and can process tax refunds via the app in 23 European countries.

The new partnerships mark the next step in Alipay’s international expansion and will broaden the institutions’ access to Chinese tourists, who spent $215 billion abroad in 2015, an increase of 53% from 2014, according to the World Travel & Tourism Council.

Tags: , , , , , ,

Categories: Alipay

CONNECT with Contactless Intelligence

Connect with us here

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: