Chinese payments giant Alipay plans to launch operations in 20 countries across Europe by the end of 2018.
Wang Li (王莉) head of EMEA at Alipay’s parent company Ant Financial, told Dutch newspaper Financieel Dagblad that it hopes to establish a presence in 20 European countries by the end of the year.
“You can’t be successful if you’re playing defence…the payments market is changing rapidly in Europe,” said Wang.
“We’ve noticed that consumers want something different and that is what drives innovation.
“We have a huge advantage over the competition…we have invested millions to discover what works and what doesn’t.”
According to a recent report from Ecommerce News the payment vehicles has already executed deals with over 100 banks and 40 digital wall companies across Europe.
The company was active in six European nations by the start of the year, and has established a strong presence amongst supermarkets and retailers in Russia.