This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. Major Chinese mobile wallet Alipay has partnered with luxury fashion retailer Rebecca Minkoff to enable Chinese tourists in the US to make purchases at all Rebecca Minkoff retail locations — including New York, Chicago, Los Angeles, and online — using Alipay, according to Payment Week. This partnership — which was announced prior to Rebecca Minkoff's New York Fashion Week show on September 9 — continues Alipay's effort to expand its massive network of 520 million active global users. In the last year alone, the mobile wallet expanded into Europe, Asia, Australia, South Africa, and the US. This partnership continues the series of expansion efforts by Alipay to target Chinese tourists globally. Digital disruption is rocking the payments industry. But merchants, consumers, and the companies that help move money between them are all feeling its effects differently. For banks, card networks, and processors, the digital revolution is bringing new opportunities — and new challenges. With new ways to pay emerging, incumbent firms can take advantage of solid brand recognition and large customer bases to woo new customers and keep those they already have. And for consumers, the digital revolution is providing more choice and making their lives easier. Digital wallets are simplifying purchases, allowing users to pay online with only a username and password and in-store with just a swipe of their thumb. Dan Van Dyke, senior research analyst for BI Intelligence, Business Insider's premium research service has written a detailed report that explores the digital payments ecosystem today, its growth drivers, and where the industry is headed. The report also: To get the full report, subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND more than 250 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> Learn More Now You can also purchase and download the report from our research store.
Chinese mobile wallet provider Alipay has joined forces with luxury US fashion brand Rebecca Minkoff. Under the partnership, Chinese tourists in the US will be able to make payments in Rebecca Minkoff stores using their Alipay account. Alipay currently has 520 million users across the world, and is specifically targeting Chinese tourists. The digital wallet company is working on partnerships to raise their profile and target new demographics.