Can europe use circle pay app
"For merchants it's the same story, they want to know Chinese consumers, Asian consumers, Japanese, South Korean, Indians, but it's hard for them to know their overseas customer because they lack a platform. Payment is very critical part of the circle, it is not the only part of the circle," Peng told CNBC.
We are not a payment service, we are more than payments. "Merchants are not crying for another payment solution. Instead, with the focus on allowing merchants to use Alipay to help market to customers and learn their behavior, Ant Financial sees it as a tool to drive revenues. Alipay does not compete directly with the likes of Samsung Pay and Apple Pay as both services just allow people to purchase items with their phone. Partnerships will be key for the platform in order to get merchants sending through offers and deals. Last year, it struck a deal with Wirecard, a German payment processing company, which will let merchants using Wirecard's point-of-sales terminals accept Chinese visitors' purchases made with Alipay. Merchants will be able to view the shopping habits on Chinese consumers spending in their stores through Alipay's dashboard. Ant Financial is talking to a number of partners from financial institutions to restaurants and theatres across Europe to get them on board with Alipay. Peng revealed to CNBC that the company is "actively looking" for more partners in Asia as it looks to go deeper into the region.īut the firm does not plan to invest heavily in payment firms in Europe just yet.
Alibaba and Ant Financial upped their stake in Indian payments firm Paytm last year as it looks to expand into India. Alipay has been expanding out of China in recent times.