Alipay announced news on Friday (Oct. 20) that it is working with JPMorgan Chase on a plan to allow Chinese consumers traveling in North America to pay using their Alipay Mobile Wallet at Chase merchant clients.
With 4 million Chinese tourists expected to visit North America this year alone, this relationship would expand the places where Chinese shoppers can use their Alipay Mobile Wallet.
“We are always looking for ways to deliver more value to our merchants and bring them closer to their customers,” said Pablo Simone, head of Product and Strategy for Chase Merchant Services. “A relationship with Alipay would create opportunities that enable Chinese tourists to transact in a way they are familiar with.”
As China’s leading online payment provider, Alipay is the primary means of online and mobile payments for tne nation’s consumers.
Its geolocation-based “Discover” function and push notifications within the app allow Chinese travelers to locate nearby merchants, receive promotions and make purchase decisions. It also enables local merchants to better target and connect with Chinese consumers.
“We are thrilled to work with JPMorgan Chase as we seek to continue growing the number of retailers who accept Alipay across North America,” said Souheil Badran, president, Alipay North America. “Partnering with JPMorgan Chase will help more U.S. merchants extend secure payment services to Chinese tourists.”
Owned by China’s Alibaba Group and operated by affiliate FinTech giant Ant Financial, Alipay boasts more than 500 million registered users and plans to grow that number to exceed 2 billion within the next 10 years as it expands its global reach.
It powers hundreds of millions of transactions per day. The payment method is now accepted in 70 countries and supports transactions in 14 major currencies.