 |
EUROPE/CHINA. Chinese third party payment platform Alipay has launched in Europe, in a move which it says will simplify payments for Chinese tourists using Western businesses when travelling.
Operated by Alibaba affiliate Ant Financial, Alipay will particularly focus on the UK, Germany and France. It has 450 million active users in China, and estimates that it owns more than 50% of the market share in online payment and 80% in mobile.
With the number of Chinese tourists travelling abroad forecasted to reach 234 million by 2020 (with 117 million of them spending US$165 billion in 2014), Alipay said there was “a vast opportunity for European retailers to connect to a new consumer base”.
Consumers utilise Alipay via an app, which is described by the company as a payment plus lifestyle platform as it can also be used to book hotels, call a taxi, share a restaurant bill, share reviews or pay utility bills.
In May, Alipay will also launch a ‘Local Services Platform’ within the app which will customise it based on the user’s geolocation. Users will then be able to see a detailed description and reviews of the shops and restaurants around them, plot a route via a bilingual interactive map, and receive customised location based offers and coupons.
Alipay said it was aiming to leverage this platform to collaborate with European payment companies and content service providers to provide localised services, therefore bringing more Chinese shoppers to merchants’ stores.
“With this expansion users can now access Alipay in Europe, allowing them to enjoy a seamless experience when travelling,” said Alipay International President Sabrina Peng.
“From a merchant perspective, the opportunity is huge as Chinese consumers feel the most comfortable using Alipay to complete purchases. We’ve been working with partners across Europe such as Wirecard and Prestashop to help merchants – small and large – capitalise on the opportunity to sell to the Chinese market.”
 |
European expansion: Alibaba’s Alipay platform has 450 million active users in China |
