Retail firm Stockmann has tapped German payments technology firm Wirecard to support Alipay as a payment method at its stores in the Baltics.

To carry out the initiative, the retail firm also collaborated with Cimple Marketing that focuses on marketing to the Chinese market.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Wirecard head of partner management of consumer goods Catharina Tiede said: “Chinese tourists hold an enormous sales potential for European merchants. When travelling to Europe, Chinese guests spend on average 3,000 euro per person on shopping.

“We are pleased to help Stockmann to engage more effectively with this continuously growing target group, increasing customer satisfaction and in turn their sales figures.”

Alipay currently has an active client base of 520 million. The platform will facilitate 100 million transactions on a daily basis.

Wirecard believes that adding support for Alipay can result in a surge of more than 350% in the total transactions by Chinese tourists within a year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Stockmann Baltics IT development manager Andres Alango said: “By partnering with Wirecard and Cimple to offer these travellers the possibility of using their preferred mobile payment methods, we look forward to differentiating ourselves from other retailers by providing an even better customer experience, and welcoming even more Chinese tourists to our stores in the future.”