Alipay, operated by Ant Financial, is expanding its footprint in the Americas through a partnership with Openpay in Mexico. Openpay has a network of more than 17,500 associated points of sale in Mexico According to Alipay, its 600 million active users in China will be able to use its service to make purchases from Openpay’s affiliated businesses in Mexico. “An increasing number of Chinese consumers are shopping for products in Mexico that they can’t find at home, and they want to be able to purchase those items with the payment method they use most often,” says Souheil Badran, president, Alipay Americas. Openpay has a network of more than 17,500 associated points of sale in Mexico, connected in real-time through its Paynet network, which allows cash payments to be made online. Openpay’s clients in Mexico include multi-national e-commerce merchants, airlines, ride-sharing companies, and ticketing platforms. Alipay says its partnership with Openpay will help Mexican merchants meet the growing Chinese demand for Mexican products. According to the Inter-American Development Bank, Mexican exports to China increased 28% in 2017. In April 2017, BBVA Bancomer, a fully owned subsidiary of BBVA, acquired Openpay.
Alipay's 600 million active users in China will soon be able to use its payments services to make purchases from merchants affiliated with Mexico's Openpay after the two companies formed a partnership. The tie-up is in response to growing demand in China for Mexican products. Openpay has a network of more than 17,500 points of sale across the Latin American country, offering real-time payments via its Paynet system, which enable online cash payments. Mexican imports to China increased by 28% last year, according to the Inter-American Development Bank.