Madrid, Spain and Hangzhou, China, July 29, 2014 – Amadeus, a leading technology partner for the global travel industry and Alipay, China's leading online payment service provider, today announced a strategic collaboration to integrate Alipay into the Amadeus Payment Platform (APP). This collaboration will make it easier for Amadeus' travel providers to serve Chinese travelers by offering them the option to pay with Alipay’s online payment system, trusted by millions of registered Chinese customers. Amadeus’ travel providers will therefore be able to take advantage of the world’s largest tourism market.
“With this collaboration we add a key payment provider to our platform to satisfy our customers’ payment needs. Our travel-payment expertise, combined with Alipay’s market penetration and the ease of using Alipay’s products, will provide our customers with the right solution to meet Chinese payment demands” commented Celia Pereiro, Head of Amadeus Travel Payments.
China set a record in 2012 as the world’s top-spending tourism market with a total expenditure of $102 billion (1). In 2013, 100 million Chinese tourists made outbound trips, and industry experts estimate this figure to reach 200 million (2) by 2020. Chinese tourism spending is expected to triple in the same period. China is also set to become the world’s biggest domestic travel market by 2017 (3).
“Alipay is delighted to be able to support Chinese consumers as they travel more widely and in greater numbers than ever before. This new collaboration combines the advanced technology and wide reach of two trusted leaders, Amadeus and Alipay, to give Alipay users more choice and convenience overseas” said Jingming Li, group vice president and Head of Alipay U.S and Europe.
Amadeus is a leading provider of advanced technology solutions for the global travel industry. Customer groups include travel providers (e.g. airlines, hotels, rail and ferry operators, etc.), travel sellers (travel agencies and websites), and travel buyers (corporations and travel management companies).
The Amadeus group employs around 10,000 people worldwide, across central sites in Madrid (corporate headquarters), Nice (development) and Erding (operations), as well as 71 local Amadeus Commercial Organisations globally.
The group operates a transaction-based business model.
Amadeus is listed on the Spanish Stock Exchange under the symbol “AMS.MC” and is a component of the IBEX 35 index.
Amadeus Travel Payments is dedicated to providing end-to-end payment solutions tailored to the travel industry. With a team of travel and payment experts, the unit offers solutions based on the Amadeus Payment Platform (APP) to over 300 airline customers. APP enables our customers to access more than 250 relevant acquiring banks and 100 alternative methods of payment worldwide.]
Launched in December 2004 and operating as an important participant in Alibaba Group’s ecosystem, Alipay (www.alipay.com
) provides a secure, trustworthy and convenient way for individuals and businesses to make and receive payments online and on mobile phones. Alipay offers payment and escrow services for transactions on Alibaba Group’s marketplaces as well as to third parties in China. It is the principal means by which buyers and sellers settle transactions on Taobao Marketplace and Tmall.com. According to iResearch, Alipay is the largest third-party online payment service provider in China by total payment volume. Alipay is a related company of Alibaba Group and provides payment and escrow services for Alibaba Group’s marketplaces through contractual arrangements.
1 UN World Tourism Organization press release (No.: PR13020) (Apr 13)
2 Credit Lyonnais Securities Asia press release (Jan 2014)
3 Shaping the Future of Travel –Macro Trends driving industry growth over the next decade, Oxford Economics report commissioned by Amadeus