Global Blue today announces it has acquired a stake in WeChat payment specialists EuroPass. The deal will help Global Blue to further develop its offering to Chinese Globe Shoppers and enable it to offer affiliated merchants access to WeChat’s payment ecosystem in Europe.
EuroPass acts as a gateway to deliver WeChat’s services to European merchants and has developed a payment solution (tablet or POS integrated) allowing businesses to facilitate WeChat payments from Chinese Globe Shoppers, in-store and online.
Aside from payments, EuroPass also offer a WeChat mobile ticketing solution and a European marketplace, helping drive WeChat customers to European merchants. Other investors in EuroPass include venture capital firm Partech and payment solution expert SwiftPass.
Added value for merchant partners
Global Blue is committed to increasing its focus on Chinese Globe Shoppers and providing the widest range of payment and refund services to its merchant partners, helping them attract and engage with this important group of travellers.
Global Blue has signed a contract to introduce EuroPass to its network of affiliated merchants. These merchants will have the capability to accept WeChat Pay and AliPay in their stores, providing their customers with access to the world’s fastest growing payment networks.
More refund options for Chinese travellers
In recent months, Global Blue has invested in innovative new refund solutions with Alipay and UnionPay, evolving the way refunds are paid to Chinese Globe Shoppers travelling in Europe.
As Global Blue’s exclusive Tax Free partner, in the future EuroPass will also allow tax refunds from transactions to be paid directly to travellers’ AliPay and WeChat Pay wallets, further expanding its suite of refund products and giving Chinese Globe Shoppers greater choice when shopping and spending in Europe.
Jacques Stern, Global Blue CEO commented: “Chinese Globe Shoppers are vital to the retail and hospitality industries worldwide and we are committed to ensuring that our merchant partners have a range of payment and refund tools to service this important group of consumers. WeChat is the number one social network in China and an increasingly important player in the global payments space, so it is a natural platform for Global Blue to focus on. Our partnership with EuroPass will ensure our affiliated merchants are well placed to benefit from this new technology.”
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Duncan Skehens, AVP Corporate Communications
(+44) 7909 513 301 — email@example.com
Global Blue invented the concept of Tax Free Shopping more than 35 years ago and is now the worldwide industry leader, delivering Globe Shoppers the best shopping experience and creating value for retailers and partners through a range of products and services:
Global Blue operates in 51 countries, employing 1,800 people worldwide. For the period April 2015 to March 2016, Global Blue powered more than 30 million Tax Free Shopping and 12 million Dynamic Currency Conversion transactions. These totalled €21 billion worth of sales in store.
In addition, through the publication of over nine million SHOP magazines and maps, and the creation of a wide range of online content, Global Blue helps its retail partners reach and engage with more than 30 million Globe Shoppers annually.
For more information, visit corporate.globalblue.com