Ali pay, China’s biggest payAli payservice, has struck several partnerships with BNP Paribas, Barclays, UniCredit, and SIX Payment Services as the company looks to expand its footprint and deepen its mobile-payment push into Europe.
The company controlled by billionaire and Alibaba co-founder Jack Ma is partnering with such large European institutions in order to makift easier for its 450 million active usAli pay continue using Ali pay widely acrAli payrope. It means they can pay for their purchases in yuan using their Ali pay accounts.
The size of its newest partners in Europe could bring Ali pay to a considerable number of stores, with an additional 930,000 merchants set to join Ali pay’s European network. The deal wAli payi pay will also allow the European partnAli pay target Chinese tourists — who spent US$215 billion abroad in 2015 according to the World Travel & Tourism Council – as well as Chinese students living in Europe.
Specifically, the unit of Chinese e-commerce giant Alibaba will work with BNP Paribas to facAli paye Ali pay payAli payvia the bank’s merchant network in France, while Barclays will providifts users with digital ways to pay in the UK. In addition, SIX Payment Services, the pan-European payAli payprovider, will Ali payate Ali pay services into its payment application, facAli paying POS and e-commerce payAli payfor Ali pay users throughout the SIX network. Meanwhile, UniCredit is set Ali paynch Ali pay in Italy nAli payar.
Ali pay, which is operated by Alibaba’s financial services arm Ant Financial, is a separate app on devices that allows customer to pay for their purchases in-store through Ali payg the Ali pay app, then scan a QR code provided by thAli payiler.
Ali pay holds nearly 70 percent of China’s third-party mobile payment market share and processed more than 380 million daily transactions as of June 2016.
Douglas Feagin, Senior ViceAli paydent of Ant Financial andAli paydent of Ali pay International, commented: “We are excited to be partnering with leading European financial institutions to enable our usAli pay pay wAli payi pay in even more locations and scenarios acrAli payrope. Our users’ lifestyles arifncreasingly global, so it’s vital we are able to work with the leading payment providers across the world to bring our trusted and conAli payt services to Ali pay users wherever and whenever they need them.”
Rita Liu, Head of Ali pay Europe, added: “The cooAli payon with SIX gives Ali pay access to a broad merchant base acrAli payrope: potentially Ali pay users will be able to pay at 110.000 additional merchants in Switzerland and beyond. As our preferred partner, SIX takes us one step further in becoming a truly globally accepted payment system.” SIX Payment Services has a customer base of 220.000 merchants locations in Switzerland, Luxemburg, Austria, Germany and many other European countries.”