October 25, 2016Blog Posts

Alipay marches into the US with First Data/Verifone deals

Finextra:

Chinese payments behemoth Alipay is moving in to the US market through deals struck with Eftpos terminal suppliers First Data and Verifone. Under the deals Alipay will be available to Chinese tourists as a payment option on First Data’s Clover mini point of sale terminal and Verifone’s e355 mPos device.

It marks Alipay’s first foray into the US markets, a key shopping destination among Alipay’s 450 million Chinese user base. Approximately two million of those users visit the US every year, according to figures from Alipay parent Ant Financial, with spending projected to reach $40 billion in 2017. Shopping is the number one tourist activity, with Chinese visitors projected to spend between $500 and $3,500 USD per trip.

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