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Alipay expanding VAT rebate service to more countries
Online Edition
Alipay said today it plans to extend its tax rebate service to at least three more European countries after the online payment service reached a partnership deal with global tax refund network Global Blue.
The agreement will cover more duty-free shops and retailers in Europe with the increasing number of outbound travelers.
An initial pilot program to reimburse overseas shoppers the value added tariff paid on goods and services through their Alipay accounts was launched earlier this year for Chinese tourists to South Korea.
Users will need to provide their verified Alipay accounts (usually bonded with a mobile phone number) on the tax rebate form, and they can also track the tax rebate process through Alipay's smart phone applications. Rebates should take 10 to 15 working days.
The payment will be processed and deposited into yuan-denominated Alipay accounts.
The two parties started to offer the service with about 5,000 retailers across France, Germany, Italy, South Korea and the UK earlier this month, and it will be expanded to other countries in the coming months.
Tax rebates through credit cards can take months and are usually not easy to track.
According to Global Blue, Chinese shoppers are the biggest spenders, with an average outlay of 815 euros per transaction based on their VAT refund processes.
Alipay, the e-commerce payment giant, has been expanding its footprint to a number of offline sectors in an aim to boost synergies between online payment and department stores, convenience chain stores and public utility fee payments to consolidate its market position.
"We are confident that this cooperation will create a more enjoyable and convenient overseas shopping experience for Alipay customers," said Sabrina Peng, president of Alipay's International business division.
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