UniCredit Bank Becomes First Bank in Hungary to Partner With Alipay
October 12 2018 - 10:46AM
Dow Jones News
By Cristina Roca
UniCredit SpA (UCG.MI)'s UniCredit Bank said Friday that it has
become the first bank in Hungary to sign an agreement with Alipay,
a mobile-payment platform with more than 700 million active users
operated by China's Ant Financial Services Group.
The agreement will allow UniCredit Bank's merchant clients to
offer Chinese tourists the possibility of paying for goods and
services via Alipay from 2019, the Italian lender said. The move is
aimed at capitalizing on the fast-growing influx of Chinese
visitors to Hungary, it said.
According to official data cited by UniCredit, the number of
Chinese tourists to Hungary grew more by than 34% to 227,000 last
year, with the average visitor spending $1.400 there.
Ant Financial is an affiliate of e-commerce giant Alibaba Group
Holding Ltd. (BABA).
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
October 12, 2018 10:31 ET (14:31 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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