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Alipay to expand to Europe this summer

Alipay's Sabrina Peng on stage at Money20/20
ALIPAY: “We are here today looking for the partners,” Peng told delegates at Money20/20

Chinese mobile payments platform Alipay, which has 450 million active users, is to be made available in Europe this summer, enabling Chinese shoppers to make payments in stores, receive offers and view nearby shops and restaurants that accept the mobile payments service.

More than 60% of transactions on Alipay are made through a mobile device, Alipay president Sabrina Peng has also revealed during a keynote at Money20/20 Europe, and the service now processes 175m transactions a day with a peak record of 85,000 transactions per second.

“Alipay processes 175m transactions a day with a peak record of 85,000 transactions per second”

“Today, in China, a lot of people like me can go without the wallet, but they cannot go without Alipay — this is real life in China today,” Peng said. “They enjoy the lifestyle, they get used to the lifestyle in China and when they travel abroad, can we bring the same service to them? When they travel, they always carry Alipay. We are thinking how we can bring this new platform to the world, not only to China, to the world.

“Today, I’m very happy to announce that the platform is ready for the world. We are going to launch this to the market this summer.”

“When we ask the merchants, do you need another payment method? They all said nice to have, but it’s not a priority,” Peng continued. “If you ask, do you want more business? Everyone says yes, we want more business, we want to know our customers.

“This is a platform to help them really serve their customer, know their customer, even before they make their trip. We have all kinds of channels to talk to our users, everyday, several times. Payment is just a part of this service — it’s very simple, you just show a barcode or a QR code.”

“We are here today looking for the partners,” Peng added. “We want to bring this new lifestyle not only to China but also to the world.”

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One comment on this article

  1. Mobile payment solutions are proving to be much easier to expand into new markets than card based systems, a powerful advantage.

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