Alipay gets European payments licence.
Alipay, a part of Alibaba, has been granted an electronic money licence in Luxembourg, and has set up a new entity in the country: Alipay (Europe).
This comes at a time in which a major American giant, Google, also got a payment license in Europe. Particularly, in Ireland.
Alipay is already in the UK, but it is expected that its licence in Luxembourg will allow the group to serve customers across Europe and link up Chinese consumers with European merchants.