More Than 2,800 Starbucks Stores in Mainland China Now Support Alipay
Tang Shihua
DATE:  Sep 25 2017
/ SOURCE:  Yicai
More Than 2,800 Starbucks Stores in Mainland China Now Support Alipay More Than 2,800 Starbucks Stores in Mainland China Now Support Alipay

(Yicai Global) Sept. 25 -- More than 2,800 Starbucks Corp. [NASDAQ:SBUX] stores in mainland China will start accepting Alipay from today, online Chinese news outlet The Paper reported.

Alipay is the third-party payment platform run by internet giant Alibaba Group Holding Ltd. [NYSE:BABA].

The coffee chain has finally agreed to a deal after taking a lot of stick from customers, the firm, which is run by Alibaba Group Holding Ltd.'s [NYSE:BABA] financial arm, Ant Financial Services Group, said on social media.

Including stores in Macao, Malaysia and three Japanese airports, there are now over 3,200 Starbucks stores worldwide supporting Alipay, the company added.

Until now, customers could only use cash, bank cards, Starbucks gift cards, Apple Inc.'s [NASDAQ:AAPL] Apple Pay and Tencent Holdings Ltd.'s [HKG:0700] WeChat Pay, which has been accepted at the coffee chain since the end of last year.

As part of their cooperation, Alipay will offer Starbucks customers who are identity-verified on the payment platform a CNY8.8 (USD1.33) digital coupon. The firm expects to give out around USD10 million worth of vouchers between now and Oct. 11.

Also, before Oct. 15, Alipay users who spend more than CNY50 on a single purchase at Starbucks will receive a CNY5 coupon, which can be used in their next transaction.

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Keywords:   Starbucks,Alipay,Alibaba,Fintech,Third-Party Payments