Alipay is expanding its mobile wallet into the U.K. with help from Wirecard, a Munich-based payments processor, the company announced Wednesday (Sept. 28).
The Body Shop, a skin care retailer, will allow shoppers from China to use the Scan Alipay App in three London locations beginning Oct. 1. The launch coincides with the beginning of a week-long national holiday in China, during which thousands of Chinese tourists are expected to visit London, according to the press release.
The company said that customers using the Alipay App display a barcode to the retailer, who then enters the amount of the transaction into the app and scans the QR code that is then displayed on the customer’s mobile phone. Wirecard handles payment processing and acquiring for the app.
“We are delighted that we’ve partnered with The Body Shop as the first great retail chain to deliver Alipay payments to their customers via the Alipay App,” said Jörn Leogrande, executive vice president, Mobile Services, at Wirecard.
This announcement follows on the heels of another partnership Wirecard announced Friday (Sept. 23). Frankfurt-based Commerzbank AG will now be able to offer its business and corporate customers online payment and risk management solutions from Wirecard.
According to the press release, the companies will also be offering a new payment method, geared to online merchants who offer “purchase on account” as an option.
These merchants previously have had to wait at least 14 days to receive payment from the consumer, the company said. During that time, the merchants carried the risk of payment default and the burden of managing the financing themselves.
With the companies’ new “purchase on account with pre-financing” option, online merchants can be credited with the outstanding amount immediately, allowing them access to their funds sooner, the release said.