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China's Alipay sets 5-year goal to serve 10M SMEs in Europe

Alipay, the digital wallet from Ant Financial Services Group, announced a new target to support 10 million small and medium-sized businesses in Europe over the next five years, which will be able to serve more than 2 billion potential consumers traveling there from across the globe.

Alipay announced the agreement during its Alipay Partners Global Summit in London, where an expanded partnership agreement with Worldline to expand acceptance of the mobile wallet by European merchants was announced as well as a new initiative to serve airports around the world. 

"Our aim is to improve the way in which individuals and businesses buy, sell and receive payments, and to do this, we need to draw upon the strength of our partnerships," Eric Jing, chairman and CEO of Ant Financial, said in a press release. "Our growth has only been possible due to the network of partners we have established, and working together, we will make it easier for anyone to do business anywhere."

Alipay said it launched a program called Alipay Mini Programs in July 2018 starting at Hong Kong International Airport, which allows travelers to shop online and pick up duty free items when they arrive at an airport, with fulfillment completed in as little as 90 minutes. 

Cover image: Alipay.