Alipay teams up with European banks
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.