WeChat Pay expands into Europe through BNP Paribas deal

8 November 2017

WeChat PayBNP Paribas, a Paris-based international banking group, is striking a deal with WeChat Pay to introduce the Chinese mobile payment service across the European countries. The rollout will initially start from Paris to eventually expand to cover about 7.4 million Chinese visitors to Europe.

At the first stage WeChat Pay will be introduced in two Paris upmarket stores belonging to the Galeries Lafayette Group, they are Galeries Lafayette Haussmann and BHV MARAIS.

The introduction of WeChat pay comes on the heels of a common trend for European banks to adopt payment options specific for Chinese tourists to benefit from the ever growing volumes of sales for this target group. Earlier in June BBVA partnered with Ant Financial to provide Chinese travelers with the ability to pay using their mobile phones through Alipay.

WeChat Pay also opened its representation in London and started negotiations with key luxury and fashion brands in Europe as well as financial services providers over its ambitious plans to expand into the continent.

Pierre Fersztand, speaking for BNP Paribas, noted that the bank is currently providing the most comprehensive range of payment instruments in the market targeting specifically Chinese travelers making purchases at European retail stores serviced by the bank.

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