The agreement between UniCredit and Alipay, the largest online and mobile payment platform in the world, belonging to Ant Financial Service Group, an affiliate of the Chinese giant Alibaba Group, becomes operational. Starting today, Alipay users, and in particular the growing number of Chinese visitors to our country, will be able to pay for purchases of goods and services with the same Alipay app they use in China. This is done by enabling the POS of UniCredit merchant customers to read the barcode generated by the Alipay app.
Alipay, with over 450 million active users, is the most widespread and used mobile payment tool in China, which allows you to make both physical and e-commerce purchases through a virtual deposit account, to which both current and credit and debit cards. Furthermore, Alipay allows Chinese tourists to pay in 70 countries around the world in over 100 points of sale.
The first merchants where the service has been made available are Eataly, ready to welcome the numerous Chinese visitors who will be in Milan for the Salone del Mobile to its headquarters in Milano Smeraldo, and Antonia, one of the most famous internationally which opens its doors to Alipay users at its store in Brera. Soon after, important brands and retailers in the Fashion & Luxury sectors will start accepting payments via Alipay, such as Pisa Orologerie (with its Rolex, Patek and multi-brand boutiques), Morellato, Fedon and Mitsukoshi; to these is added Lagardère, global leader in airport services in Italy.
Thanks to the agreement with UniCredit in Italy, through SIA's technological infrastructure, Alipay will potentially be usable at the points of sale of over 120 UniCredit customer merchants present throughout the country. The partnership with some of the main European financial institutions marks an important step forward in the international expansion of the payment method most used by Chinese citizens. A novelty that accompanies the significant growth of Chinese tourists, who spent $ 215 billion abroad in 2015, an increase of 53% since 2014, according to the World Travel & Tourism Council. With over 3 million arrivals in 2016, Italy is the second European destination for Chinese tourists, and among the top 10 destinations globally.
"Thanks to the agreement with Alipay - says the General Manager of UniCredit Gianni Franco Papa - we are the only bank in Italy to offer our merchants the possibility of receiving payments from visitors from China via the Alipay app, thus expanding the possibilities of business. At the moment the partnership has been signed for Italy, but we intend to evaluate the extension of the service also in other countries where the Group is present. This approach of integrating the main technological innovations and the most widespread payment systems within the services and solutions we offer to customers is increasingly becoming our guide, because it allows us to maximize commercial performance, generating value for our customers, for UniCredit and for investors”.
“Alipay follows Chinese tourists to choose their favorite destinations around the world. It is an honor for us to offer users Alipay payment and lifestyle services in Italy thanks to the collaboration with UniCredit. Alipay's app-based payments and marketing solutions create a cashless, efficient and productive way of doing business by eliminating language, cultural and currency barriers between Italian merchants and Chinese tourists. We are striving to enhance our advanced technology services to create a better experience for merchants and tourists,” said Rita Liu, Head of Alipay Europe.
Rodrigo Cipriani Foresio, Managing Director Italy, Spain, Portugal and Greece of Alibaba Group, commented, “Today's launch of Alipay in Italy by Ant Financial, a major player in the Alibaba ecosystem, will further help Italian companies and confirms the Alibaba's mission to make it easy to do business anywhere ".
Alipay, a spin off of Alibaba since 2011, is today the payment instrument of Ant Financial Services Group, an affiliate of Alibaba. With a mission to “ensure equal access to financial services worldwide,” Ant Financial leverages technology to provide small businesses and individuals with inclusive financial services.
