Chinese mobile wallets are travelling the world in the pockets of Chinese users.
Stripe, a US-based startup, has newly partnered with Alipay and WeChat Pay to bring the digital wallets to more than 25 countries. The announcement was made Monday on Stripe’s blog and coincided with its expansion into the Hong Kong market.
Alipay is the digital payment arm of Chinese e-commerce mammoth Alibaba and WeChat is China’s 700 million user strong messaging app. Digital payment is a fast-growing market in China set to impact the rest of the world given the number of Chinese travellers contributing tourism dollars internationally. The UN World Tourism Organization recorded 135 million Chinese travellers going abroad last year, and said international tourism spending surpassed $250 million.
This isn’t Alipay and WeChat Pay’s first expansion overseas. The two mobile payment services, which make up 92 percent of the market in China, expanded to the US through collaborations with local companies to enable mobile payment for Chinese tourists in the country.
CNET has reached out to Stripe for a comment.
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