Worldline Partners with Alipay to Bring its Payments App to Germany

The European-based Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term provider, Worldline, with global operations and 40 years in business, today announced a synergy with Chinese payments conglomerate Alipay to enhance the German retail industry and potential revenue streams for network providers in the country.

The addition of Alipay in Germany this month allows users of the Alipay app to pay at authorized retailers with Worldline providing its gateway that enables access to additional network providers.

This synergy could set the stage for further related deals in other local industries in the future, including in capital markets and trading with online brokerages. Alipay is operated by Ant Financial Services Group and has 450 million clients - making it one of the largest payments companies globally.

Commenting in a corporate statement regarding the deal, Wolf Kunisch, Managing Director for Financial Processing & Software Licensing & CEE at Worldline, said: "Alipay is a sophisticated payment solution and we support expanding it in Germany. We make shopping for Chinese tourists – and future transactions for all foreign tourists – easier and more comfortable."

With Worldline as a partner, we can expand our market position in Europe. Based on these developments, each party gets great benefits.

Pilot program underway in July

Alipay uses a QR Code function as part of its app and is something that Chinese consumers prefer. It is under a pilot program in Germany this month before the scheduled live launch.

An official announcement regarding the deal explained how the number of businesspeople and travelers coming to Germany from China has risen in recent years and is expected to continue to grow. Half of China’s payments market is already dominated by Alipay for online payments, with an even higher share of mobile at 70%.

Rita Liu, Head of Alipay EMEA, said in a corporate statement regarding the synergy: "With Worldline as a partner, we can expand our market position in Europe. Based on these developments, each party gets great benefits."

Mrs. Liu added: "The customer can conveniently shop outside of China and pay comfortably with Alipay. The merchant, in addition to the Alipay payment solution, can benefit from the Alipay Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term solution 'Global Lifestyle Platform' to communicate offers and make recommendations to customers to increase revenue."