Alipay: London Calling
Chinese tourists can use Alipay at major London attractions such as Madame Tussauds and River Cruise under a partnership deal. The agreement is the latest in a series signed in Europe.
Alipay and Merlin Entertainments inked an agreement that allows Chinese tourists to use the Alipay application to pay for tickets at major U.K. attractions and souvenirs in their home currency, according to Chinese media outlet «Sina». The Chinese firm also has deals with major U.K. retail companies such as Harrods, Selfridges as well as Holland and Barrett.
«This partnership with Merlin marks a significant step into the attractions and entertainment space for Alipay,» said Alipay business development director Tao Tao, according to the report. Alipay, a provider of mobile payment solutions operated by Ant Financial, already allows Chinese visitors to pay at bricks-and-mortar shops in 18 European countries.
Merlin Entertainments is the owner of London tourist attractions such as Madame Tussauds, River Cruise, and London Eye ferris wheel.
Cost Effectiveness a Draw
Chinese tourists get cost savings when using Alipay because they don't have to pay a commission fee, unlike users of traditional bank cards. Customers only pay a fee if they move the money from their Alipay account to a bank account.
Besides offering savings on transaction fees, payment systems can also influence purchasing behavior using targeted promotions. As part of the partnership deal, Merlin Entertainments can push notifications into the tourists' Alipay app to help them find attractions and provide them with personalized promotions, according to website «MobileMarketing».
Alipay members who are at a higher membership level will also receive favorable foreign exchange rates.
