Barclaycard has signed an agreement to enable acceptance of Chinese mobile payment platform Alipay at UK stores.
Under the Barclaycard agreement, UK retailers will be able to support Alipay transactions without changing their existing POS system.
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In 2017, Barclaycard first trialled Alipay at eight UK retail stores.
Barclaycard is currently holding talks with nearly 70 clients, who are interested in incorporating the service.
Retailer feedback in this regard is “incredibly positive”, Barclaycard said.
The latest agreement is said to be particularly significant considering figures from UK tourist agency VisitBritain.
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By GlobalDataVisitBritain anticipates 483,000 visits from China and spending of over £1bn from Chinese visitors this year.
Barclaycard CEO, global head of payment acceptance, Rob Cameron said: “Our new agreement with Alipay gives retailers a vital tool to help them seize the revenue opportunity posed by the growth of Chinese visitors to the UK.
“At the same time, Alipay users will benefit from a more convenient and familiar in-store payments process – enhancing their overall shopping experience.”
In announcing the development, Barclaycard cited a 2018 Nielsen survey.
The study found 93% of Chinese tourists likely to spend more in a store that supports mobile payments.
Notably, around 60% of the businesses using Alipay said that their foot traffic and revenue increased.
