Nowadays, the global cross-border payment landscape is at the center of a number of trends that could gradually change competitive dynamics and influence consumers' payment habits as economic globalization makes the economy and global payment unprecedentedly connected.
Driven by cross-border payment trends, Alibaba, Tencent, and Union Pay these payment giants all provided a cross-border payment gateway for foreign businesses to better serve global consumers.
Earlier, Alipay announced that it will help 10 million European merchants reach over 2 billion potential consumers around the world in five years with innovative technology at Alipay Partners Global Summit held in London.
In fact, Alipay has been connected to local people's basic necessities of life including clothing, food, accommodation, and travel since its arrival in the UK in 2016. According to the British Tourist Authority, the UK attracted more than 483,000 Chinese tourists last year, 43 percent higher than in 2017.
The number of people using Alipay in the UK doubled last year as local businesses used to the mobile payment trend of outbound tourists. And the Nilson Report also revealed that Alipay helped nearly 60 percent of local merchants achieved both passenger flow and turnover growth as more and more outbound tourists using mobile payments.
From now on, European merchants will be allowed to accept payments through Alipay-enabled points of sale. Just as Telpo, Alipay hardware terminal and solution partner, whose payment terminals have widely applied in numerous convenience stores and shopping halls from home and abroad. This is part of Alipay and Telpo's efforts to introduce the hugely-popular cross-border payment solution to its eligible merchants.
Telpo cross-border payment solution benefits both retailers and consumers by reducing fees for merchants and lowering the cost of purchase for consumers. Honestly speaking, cross-border payment is the manifestation of global payments that allow consumers to freely transfer and pay in various countries and regions.
Tag: cross-border payment, global payment, Alipay, Telpo, terminals, solutions
Brief Introduction: Telpo is a professional smart payment partner who focuses on the ODM service 20 years. It mainly provides the EFT-POS, cash registers, biometric devices, face recognition machines, self-service kiosks, and bus validators. Telpo has served for more than 1000 customers abroad, including government, banks, Telecom operators, police stations, Retail shops, and offices. Telpo adheres to R&D and innovation, aiming to provide more intelligent hardware for global partners.