China’s Alipay Pushes Into Europe With Ingenico Payments Deal
- Agreement opens up hundreds of stores to Alipay mobile wallet
- Aims to grab share of transactions made by Chinese tourists
Alipay, an affiliate of billionaire entrepreneur Jack Ma’s Alibaba Group Holding Ltd., is pushing forward with plans to expand in Europe, unveiling a partnership with Ingenico Group SA that paves the way for hundreds of continental retailers to accept China’s biggest mobile wallet in popular destinations.
To cater to Chinese tourists visiting Europe, Alipay needs brick and mortar stores from LVMH to Sainsbury’s on board. An agreement with Ingenico, the processing platform that has thousands of merchants as its customers, will facilitate alliances as well as provide a technical piece of the puzzle, Douglas Feagin, who heads Alipay’s international business, said in an interview. The Chinese company is seeking partners from duty-free shops to luxury and department stores, he said.