Consumers in China now have the option of paying for their KFC meals via their mobile phones.
The deal between the fast food restaurant chain and Alipay will enable customers to pay for their meals using their Alipay wallets at any of the 5,000 KFC outlets in 900 cities across China. They can do so by showing the QR code or barcode in their Alipay mobile app to the cashiers, who will then use a scanner to read the barcode to take in payment.
This agreement follows similar recent tie-ups with major retailers Walmart and Carrefour, in a move to tap on the growth of mobile payments in China. According to People's Bank of China, the transaction value of mobile payments was RMB22.59 trillion in 2014, with year on year growth rate of 134.3 percent. Supporting this, Alipay reported that it settled US$778 billion in transactions last year from its 190 million users.
Sign up for CIO Asia eNewsletters.