Alipay expands its presence in Europe through Ingenico

11 August 2016

Alipay Alipay payment platform is expanding its presence to the European countries through the partnership between Ingenico and Ant Financial Services Group, which is an affiliate of Alibaba. French payment provider Ingenico will be providing access to Alipay consumers to the network of offline business across the European countries. Ingenico unveiled its plans to process Alipay cross-border payments online in its last profit statement.

The partnership will be based on the fee paid by Alipay to Ingenico with the volume of transactions to grow substantially. A year ago Ingenico saw transactions made in 170 countries while that figure for Alipay was 70.

Earlier this summer Ant acquired 20% of shares in Ascend Money, an online payment platform in Thailand. And one month before it launched a cooperation with Uber Technologies for providing Alipay consumers an opportunity to pay for rides in over 60 countries using their Alipay account.

Other partnerships of the Chinese online payment service include Wirecard and Concardis allowing Chinese travelers to make payments in Germany, France, UK and Italy. One year before Paytm raised funding with the participation of the Alipay’s investment expanding the influence of Alipay to India.

This year Ant is employing Douglas Feagin, a banker from Goldman Sachs to further strengthen its ambitious plans for global expansion.

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