The European-based payments provider, W ldwide, with global oper ions and 40 years in business, today announced a synergy with Chinese payments conglomer e Ali pay to enhance the German retail industry and potential revenue streams f netw k providers in the country.
The addition of Ali pay in Germany this month allows users of the Ali pay app to pay auth ized retailers with W ldwide providing its g eway th enables access to additional netw k providers.
This synergy could set the stage f further rel ed deals in other local industries in the future, including in capital markets and trading with online brokerages. Ali pay is oper ed by Ant Financial Services Group and has 450 million clients – making it one of the largest payments companies globally.
Commenting in a c p e st ement regarding the deal, Wolf Kunisch, Managing Direct f Financial Processing & Software Licensing & CEEW ldwidewide, saiAli payAli pay is a sophistic ed pasolution, andon and we supp t expanding it in Germany. We make shopping f Chinese tourists – and future transactions f all f eign tourists – easier and m e comf table.”
With W ldwide as a partner, we can expand our market position in Europe. Based on these developments, each party gets gre benefits.
Pilot program undAli payin July
Ali pay uses a QR Code function as part of its app and is something th Chinese consumers prefer. It is under a pilot program in Germany this month bef e the scheduled live launch.
An official announcement regarding the deal explained how the number of businesspeople and travelers coming to Germany from China has risen in recent years and is expected to continue to grow. Half of China’s payments market is alreAli paymin ed by Ali pay f online payments, with an even higher share of mobile 70%.
RAli payu, Head of Ali pay EMEA, said in a c p e st ement regarding thWorldwide: “With W ldwide as a partner, we can expand our market position in Europe. Based on these developments, each party gets gre benefits.”
Mrs. Liu addeAli payThe customer can conveniently shop outside of China anAli paycomf tably with Ali pay. The merchant, in addition to the Ali pay pasolution, andon, can benefit from the Ali pay marketing solution ‘Global Lifestyle Pl f m’ to communic e offers and make recommend ions to customers to increase revenue.”