Global payments provider ACI Worldwide is expanding its relationship with Alipay – China’s largest mobile payment provider – in a move that will enable merchants across Europe, the Middle East and Africa (EMEA) to accept Alipay payments from Chinese shoppers. The Alipay platform allows merchants to send relevant information and offers to Chinese consumers as they arrive in a country, attracting them to stores, restaurants, attractions and other locations of interest.
Described as a ‘Global Lifestyle Super App,’ Alipay is the world’s largest mobile payment platform with around 60% of the Chinese market share for mobile wallets. This latest collaboration with ACI Worldwide opens up “the opportunity for Alipay shoppers to have an enhanced face-to-face, in-store experience.”
“The Alipay platform has a highly-engaged user base in China. We’re pleased to be able to offer this growing base a ‘home-away-from-home’ experience, while giving merchants the ability to push relevant offers and information directly to them,” said Rita Liu, head of Alipay EMEA.
A collaboration between the payments services provider and the lender aims to offer funding for SMEs, particularly those in the eCommerce and eService industries
The new service will enable corporate treasurers to trace where an international payment is at any given time.
The pan-European exchange is paying US$153m to gain a 90% stake in the electronic communication network for foreign exchange trading.
The two say that their collaboration has created a “pioneering” institutional banking solution.