First Data to Power Alipay in North America
NEW YORK–(BUSINESS WIRE)–More than 450 million people globally use Alipay to pay for goods and services at home and abroad. First Data (NYSE: FDC), a global leader in commerce-enabling technology, and Alipay, one of the world’s leading online payment platforms, today announced that North American businesses will be able to accept the mobile payment service and expand Alipay’s already significant business base. First Data will implement Alipay at the point-of-sale for its four million U.S. business clients. The rollout will begin with First Data’s clients that use the Clover suite of solutions.
“As Alipay’s popularity continues to spread beyond China, we are thrilled that Alipay chose First Data to support its acceptance for American businesses of all sizes,” said Frank Bisignano, Chairman and CEO, First Data. “Through this agreement, we will be able to offer our unparalleled network of business clients a cutting-edge payment solution.”
“Our goal is to extend reliable payment services to the over four million Chinese consumers that visit North America every year,” said Souheil Badran, President, Alipay North America. “Extending our partnership with a premier partner like First Data provides the merchants with a seamless integration and access to consumers who want to continue paying with their lifestyle mobile app.”
With more than 450 million global active users, Alipay is the world’s largest online and mobile payment platform, and has emerged as a lifestyle enabler. In addition to online payments and money transfers, users can hail a taxi, book a hotel, buy movie tickets, and make doctors’ appointments directly from within the app. Alipay is expanding to in-store, offline payments at brick-and-mortar stores across the globe, and this new partnership with First Data will provide more North American merchants and retailers the ability to accept payments from millions of overseas customers who already know and trust the platform.
As part of the agreement, Alipay transactions will be routed through Acculynk, First Data’s recently-acquired technology company that provides innovative debit routing solutions. During the Alipay transaction, Acculynk will tokenize the Alipay QR code for settlement.
“With the help of Acculynk’s gateway technology, First Data will be able to quickly implement Alipay for its large client base, so businesses can start accepting Alipay transactions in a seamless manner,” said Ashish Bahl, founder and CEO of Acculynk. “Through its role as the world’s largest merchant acquirer, First Data will be the first to offer Alipay at the point-of-sale in a scalable manner for North America businesses.”
This new collaboration enhances the existing relationship between First Data and Alipay. In 2016, the two companies successfully piloted the implementation of the Alipay mobile payment solution in select high-end and specialty retail locations in California and New York. Today marks the next step in Alipay’s North America expansion.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,800 transactions per second and $2.2 trillion per year.
Alipay is the world’s largest third-party payment platform operated by Ant Financial Services Group, with over 450 million active users and 200 financial institution partners. In addition to online shopping payments, money transfer, and utility bill payments, Alipay is expanding to offline payments. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets and even enjoy a full-scale of wealth management services directly from within the app.
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