solarisBank becomes Alipays acquirer for further merchant network expansion in Europe

Thursday 21 March 2019 13:58 CET | News

solarisBank has announced a partnership with Alipay, becoming a licensed acquiring partner of the latter.

Following the partnership, solarisBank will provide Alipay with the infrastructure to expand its network of acceptance points in Europe. So far, there are only a few acceptance points for Chinese mobile payment networks across the continent.

The number of Chinese tourists abroad is increasing every year, and with over 130 million travellers, it also accounts for the largest share of all tourists worldwide. According to the press release, the vast majority of Chinese tourists prefer mobile payment methods, since credit cards are less prevalent and Chinese card providers are accepted only rarely by European retailers and usually in exchange for high fees.

To expand the merchant network in Europe, Alipay is cooperating with solarisBank, which fulfils the necessary technical and regulatory requirements to serve as Alipay’s acquirer in Europe. For this purpose, solarisBank will cooperate with technical service providers (TSPs) from the Alipay network going forward.

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Keywords: SolarisBank, partnership, Alipay, Acquirer, merchant, Europe, mobile payments
Countries: World