Chinese online payment platform Alipay has partnered with Verifone, a payment technology provider, to allow Chinese tourists to make purchases using their smartphones across North America and Europe.
The move will see the Alipay App available on Verifone e355 mobile point-of-sale solution, allowing retailers to accept Alipay anywhere at brick and mortar stores.
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Verifone will be able to accommodate nearly 100 million Chinese consumers, who annually travel abroad and use Alipay to make purchases.
Alipay International head and senior vice president of Ant Financial Services Group Douglas Feagin said: “Scale, security and speed are important to us as we look to enable our customers to walk into a store while traveling abroad and pay for purchases with the Alipay App—just like they do here in China.
“Verifone has each of these attributes, and as a trusted partner to global and national retailers, we benefit from Verifone’s scale to bring broader Alipay acceptance for Chinese consumers who travel abroad.”
Alipay has more than 450 million active users and holds nearly 70% of the country’s third-party mobile payment market share. As of June 2016, the firm processed over 160 million daily transactions.
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By GlobalData
