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China Daily (Canada) - - THIS WILL BE THE 11TH G20 LEADERS SUMMIT: MAJOR OU - ByWANGBy YING

It is un­be­liev­able that I can even buy street snacks with Ali­pay in Hangzhou.”

Ali­pay, one of China’s most po pop­u­lar mo­bile pay­ment apps, to took a big step to­ward glob­al­iz­ing in its ser­vices when it se­cured a th third-party pay­ment li­cense in Ho Hong Kong on Aug 25.

With this stored value fa­cil­i­ties tie li­cense, HongKong users can no now use Ali­pay’s e-wal­let func­tions tio and en­joy mer­chant dis­counts. co

Al­though Ali­pay has been in th the Hong Kong mar­ket since 20 2007 and al­ready works with ab about 6,000 mer­chants, in­clud­ing in depart­ment stores, ho­tels an and theme parks, its us­age has la largely been lim­ited to main­land la users due to Chi­nese cen­tral tra bank reg­u­la­tions, which all al­low only peo­ple with a bank ca card is­sued in the Chi­nese main­land la to store credit in their ac ac­counts.

Peng Yi­jie, vice-pres­i­dent of An Ant Fi­nan­cial, a sub­sidary of e-c e-com­merce gi­ant Alibaba that op op­er­ates Ali­pay, said the com­pany ny is ea­ger to bring the cash­less ex ex­pe­ri­ence to Hong Kong, given th the south­ern city’s close con­nec­tions tio with the main­land.

Ali­pay was started in 2004 and no now of­fers pay­ment ser­vices at more than 80,000 over­seas off­line stores in 70 coun­tries and re­gions.

The com­pany also co­op­er­ates with ride-hail­ing app Uber in 69 na­tions and re­gions as well as Airbnb.

In Au­gust, Ali­pay reached an agree­ment with Mu­nich Air­port that al­lows Chi­nese tourists to make pay­ments at the air­port ter­mi­nals by scan­ning an Ali­pay QR code on their mo­bile phones. Mu­nich Air­port is the first in Europe that sup­ports pay­ment ser­vices by Ali­pay.

The­p­ay­mentser­vices provider has also signed agree­ments with a slew of phys­i­cal stores, in­clud­ing up­scale French depart­ment store Ga­leries Lafayette in Paris. Ac­cord­ing to the deal, Ali­pay will be avail­able only toChi­nese tourists.

Statis­tics pro­vided by Ant Fi­nan­cial showed that among the more than 50 na­tions and re­gions that of­fer de­par­ture tax re­fund poli­cies, 24 of them sup­port Ali­pay. The ma­jor­ity of those coun­tries are key over­seas des­ti­na­tions for Chi­nese trav­el­ers.

In ad­di­tion to Ali­pay, Ant Fi­nan­cial’s other busi­nesses are also mak­ing their way over China’s bor­ders.

In Fe­bru­ary 2015, Ant Fi­nan­cial be­came a share­holder in In­dian on­line pay­ment plat­form Paytm.

Af­ter more than a year of de­vel­op­ment, users are now able to use the In­dian ver­sion of Ali­pay to pay for rides in tuk-tuk taxis, and make pay­ments at cafes, gas sta­tions and movie the­aters.

Ac­cord­ing to Ant Fi­nan­cial, the num­ber of Paytm users soared more than five­fold from 20 mil­lion in Fe­bru­ary last year to the cur­rent 135 mil­lion, be­com­ing the world’s fourth­largest e-wal­let.

In Novem­ber, Ant Fi­nan­cial and Korean Tele­com launched K Bank, the first in­ter­net bank in South Korea.

“As a pioneer of China’s in­clu­sive fi­nanc­ing in­dus­try, Ant Fi­nan­cial looks to show­case China’s prow­ess to the world,” said Jing Xian­dong, the com­pany’s pres­i­dent.

He added that he be­lieves China’s fi­nanc­ing sec­tor will play a big role in re­duc­ing poverty and help­ing to pro­mote so­cial equal­ity glob­ally.

Thomas Derk­sen, a Ger­man so­cial me­dia star in China

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