Barclaycard Ties-Up With Alipay To Boost UK Merchants’ Sales

Barclaycard, which processes nearly half of the UK’s credit and debit card transactions,
announces a new agreement with Alipay, the world’s leading payment and lifestyle platform. The pact allows retailers to accept Alipay transactions in stores across the UK.

Building on a successful pilot over the past two years, the new agreement will enable UK retailers to take full advantage of the growing volume and buying power of Chinese visitors. In addition to the UK’s 393,000 Chinese residents and 95,000 Chinese students, tourists from China represent an increasingly important customer segment for UK retailers.

VisitBritain is expecting 483,000 visits from China this year, up 43 per cent from 2017 and they are expected to spend more than £1 billion this year, up 50 per cent, moving it well into the UK’s top 10 tourism markets.

The increase in market size is also demonstrated by the fact that the number of Alipay users in the UK has doubled in the last year. By accepting Alipay, the world’s most-used app in 2018 outside of social apps according to App Annie (the standard in app analytics and app market data), retailers will be able to capitalise on the growing appetite of Chinese tourists to use mobile payments over cash while abroad.

According to a survey conducted by Nielsen last year, the vast majority (93 per cent) of Chinese tourist  said they would likely spend more in a store that accepted
mobile payments. In addition, among the merchants surveyed that had adopted Alipay, nearly 60 per cent said that they had clearly seen growth in both foot traffic and revenue.

The new agreement will enable UK retailers to accept in-store Alipay payments without replacing their existing point-of-sale system, allowing them to take advantage of the boom in Chinese tourism without disrupting their existing customer experience.

Rob Cameron, Chief Executive Officer Global Head of Payment Acceptance at Barclaycard, said:

“Thanks to the significant investments we’ve made in our platform, our clients have access to a growing range of payment types, each of which can help them increase market share by meeting the needs of new customers.“Our new agreement with Alipay gives retailers a vital tool to help them seize the revenue opportunity posed by the growth of Chinese visitors to the UK. At the same time, Alipay users will benefit from a more convenient and familiar in-store payments process – enhancing their overall shopping experience.”

Retailers will also benefit from being at the fingertips of hundreds of millions of highly-engaged Alipay users, who will be able to search for outlets near their location to find out details such as opening hours, directions, and whether there are any discounts available.

Alipay serves over one billion users worldwide together with local e-wallet partners, and this new agreement offers its Chinese users travelling in the UK the familiar mobile payment and lifestyle  experience they enjoy at home, as well as Alipay’s competitive foreign exchange rate.

Feedback from retailers has been incredibly positive; Barclaycard is already in discussions with around 70 clients interested in becoming early adopters.

Meanwhile Roland Palmer, Head of Europe, Middle East and Africa at Alipay stated:

“Alipay is excited to announce that it will be working with Barclaycard to provide visitors from China with the mobile payment experience that they are already familiar with. Through this strategic partnership, Alipay will now be able to offer many more UK merchants the opportunity to connect and engage with a growing number of Chinese visitors. This is another step forward in our vision to offer Chinese tourists a seamless travel and payment experience when travelling overseas.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

MH Platinum 2 Residences Gallery Remains Open With Strict SOP

MH Property and Platinum Victory latest joint venture project, the MH Platinum 2 Residences, situated in a 4.72-acre project in Setapak will...

iBiZZ Cloud to offer financial assistances in SMEs in Malaysia

iBiZZ Cloud Sdn. Bhd., a cloud-based taxation system, has been appointed as one of the Technology Solution Providers (TSP) under the government’s...

H3C aims to create a digitalised Government

H3C, one of China’s digital solutions companies, aims to build efficient and service-oriented digital solutions for governments to promote economic development.  

Sarawak Energy secures RM100 million sustainability-linked loan from CIMB

Sarawak Energy Berhad (“Sarawak Energy”) has secured an RM100 million sustainability-linked loan (“SLL”) in the form of a revolving credit facility from...

Bank Muamalat announces strategic partnership with EzCab

Bank Muamalat Malaysia Berhad (Bank Muamalat) has announced a strategic partnership with EzCab Sdn Bhd (EzCab) to accept cashless payments via Bank...

Must read

How today’s technology is key to industrial and manufacturing sector business continuity in a post-Covid-19 world

By  Dr. Ravi Gopinath, Chief Product Officer AVEVA , How the world does business was changing before the outbreak...

Prioritising digital resiliency in the road to recovery

By Maria Dzhanan, Vice President, Oracle Digital, JAPAC With sixty-one percent of small and medium businesses (SMBs) in Asia Pacific...

Is WFH Stifling Innovation?

Many companies are adopting ‘work from home’ models for employees following their success during COVID-19. The pandemic-induced economic downturn may not necessarily...

Agricultural industrialisation as key to food safety, security & sovereignty

By Jason Loh, Emir Research’s Q3 2020 Focus Group Discussion (FGD) findings has highlighted concerns over food safety, security...