STORES Magazine - May/June 2017 - 17
By JANET GROEBER
lipay is a third-party online payment platform launched in China in 2004 by
Alibaba Group and founder Jack Ma. The company recently announced plans to
expand in-store mobile payments outside China - specifically North America
- in response to the number of Chinese citizens traveling outside that
country's borders. In North America, Souheil Badran leads the effort.
With years of global experience across
e-commerce, big data, security and payments
industries and cultures from Silicon Valley to
China, Badran has been instrumental in developing
and executing the strategies that have led several
companies to the top of their respective industries.
Prior to his executive leadership role with Alipay,
Badran served as president and CEO of edo
Interactive, where he led the effort to seamlessly
deliver personalized offers to consumers through
credit and debit cards as well as mobile devices.
Badran joined Alipay in October 2016 to pave
the way for Chinese visitors to the United States.
More than 2 million Chinese tourists visited
the U.S. last year; that number is expected to
reach to 3 million in 2017. Chinese tourists
appreciate finding items in North America that
are unavailable in China, or merchandise they can
purchase at more affordable prices.
Regardless of motivation to purchase, Alipay
hopes to provide a familiar and trusted payment
method for its Chinese customers.
What do North American retailers need to
know about Alipay?
Alipay is a fintech company, enabling users to
pay for items online and in-store in China. As of
last December, the number of Alipay users reached
450 million in China.
But Alipay is more than just a simple payment
processor. As a company we've started to understand
the lifestyle, payment history and credit history of our
customers. For instance, we can now extend credit on
Alipay North America
San Mateo, Calif.
STORES May/June 2017 17