/payments

News and resources on payments systems, innovations and initiatives worldwide.

Barclaycard opens up to Alipay

Barclaycard, which processes nearly half of the UK’s credit and debit card transactions, has extended an existing provisional agreement with Alipay, enabling retailers across the country to accept the Chinese payment app at the point-of-sale.

  29 1 comment

Barclaycard opens up  to Alipay

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Barclaycard first launched a pilot with Alipay in 2017, testing the QR code-based mobile shopping app in eight retail stores across the UK.

The new agreement will enable Barclays' entire network of 11,000 merchants to accept in-store Alipay payments without replacing their existing point-of-sale system. Barclaycard says it is already in discussions with around 70 clients interested in becoming early adopters.

Rob Cameron, CEO, global head of payment acceptance at Barclaycard, says: “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.

The move comes on the back of stats from VisitBritain, which is expecting 483,000 visits from China in 2019, up 43% on 2017, with Chinese visitors expected to spend more than £1 billion this year, up 50%, moving it well into the UK’s top 10 tourism markets.

Says Cameron: “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.”

Sponsored [Webinar] PREDICT 2025: The Future of Faster Payments in the US

Comments: (1)

A Finextra member 

“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.”

That may indeed be the case, but at what cost to merchants?

I suspect that this will be of interest to only a very small number of retailers who have high(er) levels of Chinese tourists and high margins. I can't imagine anywhere near the 11,000 merchants on Barclaycard's network will be interested.

[Upcoming Webinar] Next Gen Payment Processing: How banks can embrace the futureFinextra Promoted[Upcoming Webinar] Next Gen Payment Processing: How banks can embrace the future