First Data, Alipay Partner to Bring Popular Chinese Mobile Payment Option to U.S.
October 24 2016 - 5:00PM
Business Wire
Partnership enables Chinese consumers to pay
with Alipay while shopping at select luxury retail locations in New
York and California
Leading Chinese app will use First Data’s
Clover Mini to facilitate transactions
First Data (NYSE: FDC), a global leader in commerce-enabling
technology, today announced a new partnership with Alipay, one of
the world’s leading online payment platforms, to bring the Alipay
mobile payment solution to United States merchants. Beginning in
November, Alipay will be available to Chinese consumers shopping at
select retail locations in California and New York. Participating
retailers at those locations will use First Data’s Clover Mini
point-of-sale solution to accept Alipay.
“There are more than 450 million loyal Alipay users in China and
roughly two million of those users visit the United States each
year,” said Frank Bisignano, First Data Chairman and Chief
Executive Officer. “First Data is honored to partner with Alipay to
make this popular payment option available to Chinese consumers
traveling in the U.S. This is another example of First Data
leadership, helping our clients grow their businesses while helping
consumers facilitate safe and secure payments anywhere in the
world.”
First Data is the largest merchant acquirer in the United
States, serving more than four million merchant locations. The U.S.
is a popular destination for Chinese tourists and those visitors
are projected to spend $40 billion in 2017, continuing a recent
trend of double-digit spending growth, according to Ant Financial
Services Group, parent of Alipay and related company of Alibaba
Group. Shopping is the number one tourist activity, with Chinese
visitors projected to spend between $500 and $3,500 USD per trip.
Alipay availability in the U.S. reduces the need for tourists to
carry large amounts of cash or to use international credit cards,
which traditionally see high decline rates and involve foreign
exchange fees.
First Data’s special partnership with Alipay will enable the
acceptance of the app at several luxury and specialty retailers in
the United States. The Alipay app will identify participating
merchants based on the consumer’s mobile device geolocation
feature. In-store signage will also identify Alipay-accepting
merchants. The Alipay app will display discounts, coupons, and
other promotions to the Chinese visitors before, during, and after
their visit.
“Over 450 million users use their Alipay app everyday, ranging
from shopping, movie-ticketing, paying their utilities bills, and
Ant Financial aims to bring the ‘taste of home’ to them when they
are traveling abroad,” Douglas Feagin, Senior Vice President of Ant
Financial and Head of Alipay International, said. “Partnering with
First Data will help more U.S. merchants extend reliable payment
services to Chinese tourists.”
First Data’s Clover Mini plays a key role in the transaction,
making the shopper’s experience consistent with their check-out in
China. Introduced in 2015, Clover Mini meets the demands of a
rapidly changing commerce marketplace, enabling merchants to accept
most payment types, including swipe, PIN Debit, EMV (chip + PIN;
chip + signature) and NFC transactions. Additionally, Clover Mini
operates with the same power as the original First Data Clover
device, Clover Station®, in a much smaller package, meaning
business owners can access the same intuitive tools without
compromising on space.
The Clover Mini also possesses best-in-class speed, processing
EMV transactions in as little as 2.93 seconds.
About First Data
First Data is a global leader in commerce-enabling technology
and solutions, serving approximately six million business locations
and 4,000 financial institutions in 118 countries around the world.
The company’s 24,000 owner-associates are dedicated to helping
companies, from start-ups to the world’s largest corporations,
conduct commerce every day by securing and processing more than
2,500 transactions per second and $1.9 trillion per year.
About Alipay
Alipay is the world’s largest third-party payment platform
operated by Ant Financial Services Group, with over 450 million
active users and 200 financial institution partners. In addition to
online shopping payments, money transfer, and utility bill
payments, Alipay is expanding to offline payments. Alipay has
evolved from a digital wallet to a lifestyle enabler. Users can
hail a taxi, book a hotel, buy movie tickets and even enjoy a
full-scale of wealth management services directly from within the
app.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161024006358/en/
Cindi Kurczewski, First Data+1
404-890-2428Cynthia.Kurczewski@FirstData.comorDoris Ke, Alipay+1
347-342-2007Doris.ke@alipay.com
First Data (NYSE:FDC)
Historical Stock Chart
From Mar 2024 to Apr 2024
First Data (NYSE:FDC)
Historical Stock Chart
From Apr 2023 to Apr 2024