Banco Comercial Português launches Alipay payments platform in Portugal

30 November 2018

Portuguese bank Banco Comercial Português (BCP) has launched the electronic payments platform of Chinese company Alipay of the Alibaba group to serve the growing number of Chinese tourists visiting Portugal, according to a joint statement.

“The integration of Alipay, the world’s largest electronic and mobile payment platform, enables Portuguese merchants to gain access to the Chinese visitors market, which has grown rapidly and generates increasing profits,” the statement said.

BCP has about 65,000 merchants among its clients with payment systems, and is the first Portuguese bank to offer them the Alipay payments service, based on a mobile application.

The joint statement also said that the service has started operating in Portugal at Worten, the leader in digital and electronic retail in the country, of the Sonae group.

The number of Chinese visitors in Portugal this year grew by more than 40% compared to 2017, to 260,000 visitors, contributing around 130 million euros to the Portuguese economy.

The main shareholder of Banco Comercial Português is the Chinese group Fosun, with a 27.06% stake as of 30 June, 2018. (macauhub)