BNP Paribas launches WeChat Pay in Europe
BNP Paribas has agreed a deal to introduce Chinese mobile payment service, WeChat Pay, across Europe. The roll-out will kick off in Paris and eventually expand to other countries, targeting the approximately 7.4 million Chinese visitors to Europe.
WeChat Pay, which is used by over 600 million Chinese consumers, will make its debut in two Paris-based flagship stores owned by the Galeries Lafayette Group: Galeries Lafayette Haussmann and BHV MARAIS. Pierre Fersztand, Global Head of Cash Management at BNP Paribas, says: “We’re delighted to be working with the Galeries Lafayette Group to deploy the WeChat Pay solution. Once again, BNP Paribas is demonstrating its ability to innovate and to help our clients roll-out their own innovations. We’re now offering the most comprehensive range of payment solutions on the market aimed at the Chinese customers of our retail sector clients.”
The introduction of WeChat Pay is part of a movement by European banks to adopt payment options catering for Chinese tourists. Earlier this year, Spain’s BBVA partnered with Ant Financial to enable mobile-wielding travellers to buy items via Alipay.