HEADLINE Alipay steps up Starbucks expansion in S. Korea

HEADLINE

Alipay steps up Starbucks expansion in S. Korea

People's Daily app

14:58, February 11, 2018

Alipay Korea.jpeg

South Korean convenience store Emart 24 added Alipay as a payment option in 2017. (Photo provided by Ant Financial)

Alipay, China’s largest mobile payment platform, is now available in over 1,150 Starbucks outlets across South Korea, allowing the platform’s users, primarily Chinese consumers, in the country to pay for their purchases in Chinese yuan. 

Ant Financial, Alipay’s parent company and Alibaba’s financial arm, made the announcement Friday. 

“Starbucks branches are among the most visited places by Chinese tourists in South Korea. We will continue to introduce Alipay to more local merchants to give Chinese tourists the same convenience as in China,” said Danny Chung, Alipay Korea general manager. 

Alipay has also expanded its presence in venues at the Pyeongchang Olympics. Around 400 stores in Pyeongchang and Gangreung accept the Chinese e-wallet service. 

Alipay entered the South Korean market in 2015 and is honored by more than 50,000 South Korean merchants, ranging from duty free shops to restaurants, Ant Financial said.

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