Via the partnership, Chinese users will be enabled to pay with their smartphone and Alipay app at authorised POS retailers in Europe by using integrated barcode payment functionality from Wirecard, without the hassle of incurring currency exchange fees.
Wirecard provides Alipay with payment technology for merchants. The solution is set to complement the traditional point-of-sale terminal, as the entire payment process of Alipay transactions is handled by Wirecard’s ConnectedPOS technology. The solution can be installed either directly on the merchant’s POS system or externally between the merchant’s POS system and the receipt printer, not requiring any alteration of the existing infrastructure.
Wirecard is a service provider for merchants, offering POS infrastructure, payment processing and acquiring services while Alipay has 400 million active users, owning over 50% of the market share in online payment and 80% in mobile. Its mobile wallet is being widely used for payments in online shops and also at the point-of-sale in China.
In addition to traditional online payment functions such as online shopping, money transfers, and utility bills, Alipay is expanding its applications to include wealth management services, and provides local services to over 200,000 restaurants, shops and offline merchants. As of October 2015, Alipay’s barcode payment is accepted in about 50,000 oversea retail stores, and tax reimbursements via Alipay are supported in 24 countries.
In recent news, Wirecard has launched “boon”, its MasterCard-certified HCE payment system for Android.
For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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