UniCredit teams up with Chinese mobile payment platform

UniCredit has partnered with Alipay, the world’s largest online and mobile payment platform, belonging to Ant Financial Service Group, a related company of China’s global player Alibaba.

Starting from today, for the first time in Italy, Alipay users will be able to purchase goods and services in Italy simply using an app.

That has become possible thanks to the enrollment of UniCredit’s merchant customers points of sale in reading bar codes generated by Alipay.

With more than 450 million active users, Alipay is the most widespread and used mobile payment method in China.

Alipay also enables in-store payments in many markets popular with Chinese tourists around the world. It is accepted in 70 countries and regions, with in-store payments covering more than 100,000 retail stores.

Thanks to the partnership with UniCredit and throughout SIA technological infrastructure, Alipay will potentially be used in a 120,000 large merchant network spread all over Italy.

“Thanks to the agreement signed with Alipay, we are the only Italian bank which enables merchants to accept payments from Chinese visitors via the Alipay app, enlarging their business potential,”¬†Gianni Franco Papa, UniCredit general manager, said.

Alicia Villegas
Alicia Villegas speaks Spanish and Italian and is Iberia Correspondent for InvestmentEurope. She was shortlisted for the Rising Star Award at the British Media Awards 2017 and Writer of the Year at the PPA Independent Publisher Awards 2016. Previously, she worked for almost three years at the seafood business website Undercurrent News as a market reporter. In Spain, she also worked for more than five years for several media outlets.

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