Member News: BBVA, Alipay Agreement Adds Payment Alternative for Chinese Consumers
Chinese tourists in Spain now have another payment option when shopping retail. Spanish retailers will now support Alipay capability in their stores thanks to an agreement between Ant and Spanish bank BBVA.
Before the deal, Chinese customers had to pay with a card. The Alipay application will allow them to scan a QR code, and BBVA will handle the transaction. The integration will be helpful to Spanish SMEs as the country receives about 400,000 Chinese tourists per year and these visitors are the highest spenders among the tourists; the average Chinese tourist spends about €2,000, according to BBVA.