Alipay makes debut in San Marino

China's mobile wallet Alipay has made its digital payment platform available in San Marino, allowing the European country to connect with a suite of mobile payment options in Asia.

Built in a partnership between Alipay's parent Ant Group and BKN301, a fintech Banking-as-a-Service company that operates as a payment institution in San Marino, the initiative will make Alipay's cross-border payment and marketing available to San Marino stores, allowing merchants to accept mobile payments from Asian customers.

The platform incorporates a slew of electronic wallets, including the Chinese mainland's Alipay, AlipayHK, Kakao Pay from South Korea and Touch 'n Go from Malaysia. It also supports transactions with certain bank cards and payment accounts.

Under the agreement, the three main banks of San Marino stand to configure the Smart POS of 90 percent of its merchants to accept transactions conducted by mainstream Asian digital wallets under the Alipay+ network.

"The integration of Alipay+ within our payment methods is a great opportunity for development and growth for San Marino," said Stiven Muccioli, CEO of BKN301, as quoted by RTV, San Marino's public radio and TV service. "This change will allow us to open up to new international markets and welcome a new and vast pool of customers from the East."

"The partnership with BKN301 is a further confirmation of our commitment to the affirmation of the cashless economy in San Marino," said Pietro Candela, head of business development at Alipay Europe, as quoted in the same coverage.

"In addition to guaranteeing a rewarding shopping experience, it allows and helps merchants to intercept opportunities for visibility and growth on a global level."