Bank of New Zealand launches Alipay
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Author:HUARUI
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Published time: 2018-12-18
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Bank of New Zealand (BNZ) has announced launching an integration with Verifone and China's mobile and online payments giant Alipay.
Under the arrangement, BNZ's merchant customers will be able to accept Alipay payments, in what the companies labelled as the first New Zealand bank to offer the service.
Currently in a "short" pilot, BNZ expects to launch its Alipay offering to market next month. Initially, BNZ's merchant customers will need to use Verifone payment terminals for Alipay, however the service will expand across other terminal options over time, the companies explained.
Under the arrangement, BNZ's merchant customers will be able to accept Alipay payments, in what the companies labelled as the first New Zealand bank to offer the service.
Currently in a "short" pilot, BNZ expects to launch its Alipay offering to market next month. Initially, BNZ's merchant customers will need to use Verifone payment terminals for Alipay, however the service will expand across other terminal options over time, the companies explained.
Alipay, owned by operated by the Jack Ma-founded Ant Financial Services Group, has an active user base in excess of 600 million Chinese consumers, the companies said in a statement.
Merchants that have a Verifone payment terminal and payment services with BNZ will already be able to process Alipay payments, with the terminal generating an Alipay QR code that the customer scans on their mobile to complete the transaction.
According to the companies, 12 percent of New Zealand's tourists come from China, and nearly 31 million Chinese are actively considering a trip to the country.
"This growth will be turbo-charged with BNZ being the first financial institution to partner with Alipay in New Zealand. This gives BNZ a significant advantage with businesses looking to work with Chinese customers," he said.
BNZ merchants are also able to accept Visa, Mastercard, and Union Pay as payment options via their card terminals.
Merchants that have a Verifone payment terminal and payment services with BNZ will already be able to process Alipay payments, with the terminal generating an Alipay QR code that the customer scans on their mobile to complete the transaction.
According to the companies, 12 percent of New Zealand's tourists come from China, and nearly 31 million Chinese are actively considering a trip to the country.
"This growth will be turbo-charged with BNZ being the first financial institution to partner with Alipay in New Zealand. This gives BNZ a significant advantage with businesses looking to work with Chinese customers," he said.
BNZ merchants are also able to accept Visa, Mastercard, and Union Pay as payment options via their card terminals.
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