Solution Portfolio - Page 155



Part 1
Part 2
Part 3
From China, to the world: How Chinese payment
habits are changing global payment models
Part 4
The evolution of Alipay and WeChat Pay in the
international scenario
What is now a Chinese trend will be soon a global
WeChat Pay and Alipay have become part of
standard. Alipay is globalising its payment offering
everyday life among Chinese people. It's been a
and by 2025 60% customers will be from overseas.
few years that these payment methods have
Sabrina Peng, President of Ant Financial International
become unavoidable. In order to replicate the
Business Dept, recently declared “In the next 10
same trend on a larger scale both companies are
years, the number of Alipay users worldwide will
currently attempting to grow to other nearby
reach 2 billion, of which 60%+ users should come
countries and even other continents, counting on
from markets outside mainland China”.
the fact that Alipay and WeChat Pay are way
ahead of their Western rivals in terms of
It is not only about the scale of the phenomenon, it is
technology, user friendliness, number of users and
about the speed of adoption; it took China less than 5
universality.
years to become a country of mobile commerce.
As mobile payments have taken off in China, and competition between the main platforms has intensied, the
battle is now increasingly international, with Alipay, WeChat Pay and other Chinese mobile payment systems
accepted in new locations around the world on almost a daily basis. Chinese tourists are now able to pay with
their mobile phones on every continent, and this has major benets for both, retailers and overseas businesses.
The number of countries and businesses where Chinese mobile payments can be used is already immense and
has grown consistently throughout the start of 2018.
Alipay, with its 520 million registered users in China, and WeChat Pay, with over one billion monthly
active users, point to the future of payments for the rest of the world.
By contrast, Apple Pay has only 127 million users worldwide, even though it is installed into every iPhone.
Alipay was the rst of the two that tried to reach the European market and is now connected with several large
European banks such as BNP Paribas, UniCredit, and Barclays. Moreover, in the UK, Alipay is available in many
luxury stores and brand retailers such as Harrods in London.
Preparing your business to welcome Chinese shoppers.
A guide to understand and get started with Chinese payment methods.
34

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