Adyen, the omnichannel payments platform based in Amsterdam, announced news on Tuesday (Oct. 3) that it is expanding its partnership with Alipay, the mobile payment platform owned by Alibaba, China’s largest eCommerce company.
In a press release, Adyen said that with the expanded partnership, retailers around the world will be able to accept mobile payments from Chinese customers in physical stores.
The expanded partnership between Alibaba’s Alipay, which has more than 520 million users in China, and Adyen comes ahead of China’s National Day Golden Week, which started Oct. 1 and marks the kick-off to a seven-day holiday in which more than four million Chinese consumers will travel outside the country to shop. According to Adyen, during the week-long holiday, Chinese consumers will spend around $300 billion outside China, with U.K. retailers likely garnering $337 million.
Retailers that use Adyen’s point-of-sale (POS) terminals can accept payments from Chinese consumers using a mobile device that has Alipay installed. The partnership is already integrated into the current POS used by Adyen retailers, which means no additional hardware or software is needed, noted the company.
“Europe and the U.S. are popular destinations for … Chinese tourists, so it’s vital that retailers are able to cater to their needs,” said Souheil Badran, President, Alipay North America, in the press release. “Given the capabilities built into Adyen’s omnichannel service for retailers, as well as Alipay’s included marketing solution, we look forward to enhancing what it means to deliver an integrated retail solution for retailers.”
Meanwhile, Roelant Prins, chief commercial officer at Adyen, said that retailers must embrace Chinese tourists given their capacity to spend money while abroad. “Our partnership with Alipay helps retailers unlock an enormous opportunity to grow and gain more revenue. For Chinese customers traveling abroad, they will encounter the payment experience they are used to while at home,” he said in the press release.