VeriFone Systems (PAY) Expands Alipay Acceptance

October 24, 2016 5:07 PM EDT

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To accommodate the nearly 100 million Chinese consumers who annually travel abroad and use Alipay to make purchases, Verifone (NYSE: PAY), a world leader in payment and commerce solutions, is partnering with Alipay, a financial services and lifestyle app of Ant Financial Services Group, to enable retailers in North America and Europe.

Using a mobile point-of-sale (mPOS) solution to accept Alipay App payments at their stores, retailers can increase brand visibility, and drive traffic and sales through Alipay’s in-app marketing tool. With the Verifone e355 mPOS solution, retailers will be able to accept Alipay anywhere in the store and implement marketing campaigns targeting Chinese consumers who use the Alipay app. Together, Verifone and Alipay will help retailers increase foot-traffic and enhance the shopping experience for millions of Chinese tourists.

“Scale, security and speed are important to us as we look to enable our customers to walk into a store while traveling abroad and pay for purchases with the Alipay App—just like they do here in China,” said Douglas Feagin, SVP of Ant Financial Services Group and Head of Alipay International. “Verifone has each of these attributes, and as a trusted partner to global and national retailers, we benefit from Verifone’s scale to bring broader Alipay acceptance for Chinese consumers who travel abroad.”

The most widely used payment method in China with 450 million active users; Alipay holds nearly 70 percent of the country’s third-party mobile payment market share and processed more than 160 million daily transactions as of June 2016.

“By expanding Alipay acceptance across many boarders for an easy, frictionless traveling and shopping experience, Verifone is creating a future that takes the convenient cashless payment experience to the next level for Chinese consumers wherever they are,” said Albert Liu, EVP, Corporate Development, Verifone. “The potential of Verifone’s footprint of installed devices in more than 150 countries means we are connecting retailers to increasing opportunities to engage and serve global consumers from the POS.”

Verifone and Alipay will be showcasing Alipay App acceptance on the Verifone e355 at Money20/20 (Verifone booth #2414), October 23-26 in Las Vegas.



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