BNP Paribas, Europe’s leading bank for Cash Management, is introducing WeChat Pay a popular mobile payment solution in China, to retailers in France and subsequently across Europe, thus underlining its determination to support retail sector clients wishing to attract Chinese customers.
A ‘first’ in Europe, the WeChat Pay solution is being initially rolled out at the two Paris flagship stores owned by the Galeries Lafayette Group – Galeries Lafayette Haussmann and BHV MARAIS starting from 25th of September.
Every year, close to 7.4 million Chinese tourists visit Europe. With WeChat Pay, BNP Paribas is pursuing its policy of innovating so as to enable retail chains to offer their international clientele a more streamlined shopping experience. Used today by over 600 million Chinese consumers, the WeChat Pay mobile payment solution constitutes an additional powerful tool for retailers wishing to attract – and win the loyalty of – Chinese consumers travelling abroad.
Pierre Fersztand, Global Head of Cash Management at BNP Paribas, underlined: “We’re delighted to be working with the Galeries Lafayette Group to deploy the WeChat Pay solution. Once again, BNP Paribas is demonstrating its ability to innovate and to help our clients roll out their own innovations. We’re now offering the most comprehensive range of payment solutions on the market aimed at the Chinese customers of our retail sector clients.”
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.