Wirecard to process Alipay payments for Chinese tourists in Europe

Alipay - China Elite FocusAlipay, a unit of Chinese e-commerce giant Alibaba and German banking software company Wirecard AG, said on Friday the companies have agreed to a deal to provide mobile phone payment services for Chinese tourists visiting Europe.

In Europe, the payments process will be run through Wirecard and run on existing payment terminals with no software upgrades necessary, the companies said in a joint statement.

Customers paying for goods with Alipay show their phone to a retail clerk who scans a barcode symbol with a checkout scanner.

“This is an excellent initiative that will make payments much easier and quicker for Chinese tourists in Europe”, said Pierre Gervois, CEO of China Elite Focus Magazines LLC, a New York-based publishing company focused on High Net Worth Chinese global travelers.

Alipay counts more than 400 million active users of its payment systems in China, representing an estimated 80 percent of the mobile payments market and 50 percent of the online market in the world’s second-largest economy.

Its electronic wallet system is widely used in both retail shops and for online transactions.

Source: Reuters
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