Alipay and Chase Plan to Work to Simplify Payments for Chinese Travelers

Partnership Aims to Help Chinese Consumers Pay with Alipay at Chase Merchants 

Alipay, the world’s leading third-party payment platform, today announced they are working with JPMorgan Chase, a global financial leader, toward a relationship by which Chinese consumers traveling in North America would be enabled to pay using their Alipay Mobile Wallet at Chase merchant clients.

Alipay is China’s leading online payment provider and the primary means of online and mobile payments for Chinese consumers. With four million Chinese consumers predicted to visit North America this year alone, the proposed relationship would expand the places where Chinese shoppers can use their Alipay Mobile Wallet at the register.

“We are always looking for ways to deliver more value to our merchants and bring them closer to their customers,” said Pablo Simone, head of product and strategy for Chase Merchant Services. “A relationship with Alipay would create opportunities that enable Chinese tourists to transact in a way they are familiar with.”

The proposed relationship between JPMorgan Chase and Alipay would enable its acceptance at many of Chase’s merchants in North America. Through Alipay’s geolocation-based “Discover” function and push notifications within the Alipay app, Chinese travelers can locate merchants nearby, receive promotion information, and make purchase decisions. It also enables local merchants to better target and connect with Chinese consumers.

“We are thrilled to work with JPMorgan Chase as we seek to continue growing the number of retailers who accept Alipay across North America,” said Mr. Souheil Badran, President, Alipay North America. “Partnering with JPMorgan Chase will help more U.S. merchants extend secure payment services to Chinese tourists.”

Operated by Ant Financial Services Group, Alipay is the world’s largest mobile and online payment platform. Launched in 2004, Alipay currently has over 520 million active users in China and over 200 domestic financial institution partners. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Over 10 million brick-and-mortar merchants now accept Alipay across China. Alipay’s in-store payment service covers more than 30 countries across the world, and tax reimbursement via Alipay is supported in 24 countries and regions. Alipay works with over 250 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 27 currencies. Follow us on Twitter @antfinancial and @alipay.

Chase Merchant Services is the global payment acceptance and merchant acquiring business of JPMorgan Chase & Co. and a leading provider of payment, fraud management and data security solutions, capable of authorizing transactions in more than 130 currencies. JPMorgan Chase passed $1 trillion in merchant processing volume in 2016 and was ranked the world’s #1 wholly-owned merchant acquirer by volume by The Nilson Report.ant