Payments platform provider Adyen has partnered with Alipay to allow retailers across the globe to accept noncash payments from Chinese shoppers in their stores. Alipay is used by more than 520 million people.
Terms of the partnership were not disclosed. The deal comes as Chinese consumers celebrate Golden Week, “where over four million Chinese residents will travel abroad to make the most of retail opportunities,” Adyen said, adding that Chinese shoppers “spend $300 billion abroad each year, and analysts estimate that U.K. retailers stand to make upward of $337 million over the period.”
Adyen said the partnership “enables retailers using Adyen’s point-of-sale solution to take payments in store from Chinese consumers paying with their Alipay-enabled mobile device. The Adyen-Alipay solution is completely integrated into the in-store solution Adyen retailers use, so there’s no need for additional terminals or devices.” Adyen said the Alipay payment option is added as a new option to the existing payment terminal.
Souheil Badran, president of Alipay North America, said Europe and the U.S. “are popular destinations for Chinese tourists, so it’s vital that retailers are able to cater to their needs.”
Roelant Prins, chief commercial officer at Adyen, described Chinese tourists as “an important audience for retailers to consider.…Our partnership with Alipay helps retailers unlock an enormous opportunity to grow and gain more revenue. For Chinese customers traveling abroad, they will encounter the payment experience they are used to while at home.”
Adyen is based in Amsterdam and offers payment technology that connects directly to Visa and MasterCard as well as other “globally preferred payment methods” of consumers. Its clients include Uber, Facebook, Netflix, Spotify and L’Oréal.
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