BBVA has teamed up with Ant Financial to enable Chinese tourists to pay in Spanish stores using the Alipay mobile wallet.
Thus, the Spain-based bank becomes the first Spanish financial institution to be working with Alipay.
The option to pay with Alipay (which is based on QR codes) via bank’s Smartpay service is currently available for Android phones only. Retailers that already use Smartpay will just need to update the Smartpay app.
Moreover, bank’s officials have declared they will work with the large chain stores in Spain in developing solutions to prepare them to integrate the Alipay option into their cash register systems.
Each year, around 400,000 Chinese tourists visit Spain, and the number is expected to increase in 2017; the tourists are expected to spend around EUR 1 billion across Spain’s stores in 2017.