Banco Sabadell and the e-commerce company Alibaba have closed a deal which will allow users of Alipay – run by Ant Financial Services Group, a related business of Alibaba – to make purchases using this system in Spanish stores.
The deal will enable Sabadell to offer stores using its POS terminals the option to accept payments made with the Alipay mobile app. With an acquisition market share of 15%, Banco Sabadell is one of the leading financial operators in the country, where it has over 300,000 POS terminals distributed among its stores.
According to Anna Puigoriol, head of Financial Services at Banco Sabadell, “the deal with Alipay represents a huge achievement for Banco Sabadell, as we have had to make it possible for Alipay users to make payments by scanning QR codes with their mobile phones. We are very pleased with all we have done to achieve this, as we have created a portfolio of valid solutions that can be used for all types of customers that bank with Sabadell, both small shops and major chain stores”.
Tao Tao, the Director of Business Development Alipay EMEA said, “Spain is world's second most visited country, the growth of the Chinese visitors in Spain is fastest compare with others in Europe. This is because Chinese people enjoy the Spanish attractions, food, as well as shopping in particular. We are pleased to establish the strategic partnership with Banco Sabadell, together we will utilise the Alipay digital marketing platform and next generation mobile payment technologies to provide the best shopping experience to Chinese tourists in Spain.
It is important to highlight that these solutions, which have been designed with small and medium-sized businesses in mind, introduce a new generation of Android POS terminals which come with a camera that has an integrated QR code reader. And for customers who need to be able to process payments while on the move, Sabadell has updated its mobile POS terminal application to allow payments to be made with Alipay.