The UK is one of the countries in Europe with the largest number of Chinese international students, and London is a hub for Chinese-speaking tourism and shopping. Alipay lets these users pay at overseas merchants with the same payment app they use at home, so the value of adoption should be judged on the premise that it is not a method aimed at local UK consumers. Through the Alipay+ partnership, coverage extends to users of partner wallets, including major ones in Southeast Asia.

Merchants with a confirmed share of Chinese-speaking customers — services for international students, luxury and beauty retail, or accommodation and airfare sales — can capture additional payment demand that cards weren't reaching. Conversely, if general UK consumers are your main customers, this is a lower priority, and it's more efficient to compare it against WeChat Pay, which targets the same audience.

When a Chinese-speaking consumer selects Alipay at checkout, they are switched to the app or scan a QR code and authorize the payment with a password or biometric authentication. The consumer pays in their home currency such as RMB, but the merchant transaction is processed in GBP and collected by Hecto Financial. Since this is not a card transaction, Alipay's own authentication applies instead of the UK's UK-SCA card authentication framework.

Accepting Alipay cross-border can be considered through Hecto Financial on the basis of a Korean corporation. Since Chinese regulations may restrict which product categories can be handled, advance confirmation based on the items you sell is needed.

• Country of business registration

  Confirm contract eligibility for businesses registered in Korea

• Sales channel

  The integration method and priority differ depending on your online sales channel mix, such as your own store, marketplaces, or a mobile app

• Product category

  Advance confirmation is needed as to whether your category falls under restricted industries per Alipay's merchant policy

• Nature as a cross-border method

  This is not a method for local UK consumers but one for Chinese-speaking customers. Check the share of Chinese-speaking customers in your customer data before deciding on adoption

Alipay transaction amounts are collected by Hecto Financial in GBP and, after currency conversion, settled to the Korean merchant in whichever of USD, KRW, or JPY was chosen at contract signing. Refunds are returned to the consumer's app balance or original payment method through Alipay's original-transaction cancellation method, and if you sell to consumers within the UK, local consumer protection rules such as the 14-day right of cancellation may apply, which should also be reflected in your return policy.

• UK Financial Conduct Authority (FCA), Bank of EnglandOfficial information on the United Kingdom's payment systems and regulatory rules. If the content of this page differs from actual regulations, the official source takes precedence.