Ali­pay teams up with Euro­pean banks

China Daily (Canada) - - BUSINESS -

Ali­pay, the most pop­u­lar dig­i­tal pay­ment tool run by China’s Ant Fi­nan­cial Ser­vices Group, an­nounced a part­ner­ship with three Euro­pean banks on Tues­day. The pay­ment ser­vice with 450 mil­lion ac­tive users inked deals with fi­nan­cial in­sti­tu­tions BNP Paribas, Bar­clays, UniCredit, and SIX Pay­ment Ser­vices, a ma­jor pay­ment ser­vice com­pany, in an aim to al­low more Euro­pean mer­chants to ac­cept us­ing Ali­pay as a pay­ment tool in Europe. Ant Fi­nan­cial, which is the in­ter­net fi­nance af­fil­i­ate of Alibaba Group, has been gear­ing up in its global ex­pan­sion. Mak­ing more Chi­nese out­bound trav­ellers use Ali­pay in coun­tries out­side China is one of the ma­jor steps for the in­ter­net fi­nance ma­jor to ex­pand busi­ness over­seas.

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