![]() Last year, Alipay and WeChat Pay both launched a partnership in Italy with duty-free shop operator Dufry. Launching the service for Chinese residents and visitors in Europe is a shrewd strategy, especially considering that between 20, the number of Chinese tourists abroad nearly tripled to 155 million people. The pandemic meant Alipay got off to a rocky start in the U.K., but in filings last month, the company said its growth opportunities in the United Kingdom and other European countries were “significantly heightened.”Īlipay and WeChat Pay already have around 1 billion users each, primarily in Asian countries. Instead, Barclaycard’s announcement concerned the U.K.’s around 1 million Chinese residents and tourists. The reason the announcement flew under the radar is not many Europeans were using Alipay (which is owned by tech conglomerate Ant Group) or its fellow Chinese archrival, Tencent-owned WeChat Pay. merchants increase sales from booming Chinese tourism,” announced the credit card firm, which processes nearly half of all credit card transactions in the United Kingdom. “Barclaycard partners with Alipay to help U.K. Two years ago, U.K.-based Barclaycard issued a press release that didn’t get much attention. Convenient payment for coffee, groceries, and other daily items could become a national security risk. All this creates a lot of data the Chinese government will want access to. ![]() Last month, JPMorgan announced it will be partnering with Alipay. Such apps are conquering the world-led by Chinese giants Alipay and WeChat Pay. Imagine if consumers instead used mobile payment apps that charged much lower fees. ![]() Paying with plastic is easy, but for merchants, credit cards come with pesky fees. ![]()
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