Alipay has tripled its merchants in Europe in the burgeoning Chinese tourism market

Alipay is making great progress in Europe as Chinese tourists flock to the region, according to the leader of the European division of the Chinese firm.

Roland Palmer, European leader for Alipay, told CNBC on Tuesday that the company had tripled the number of European merchants accepting its online and mobile payment platform to "tens of thousands" last year.

"We are talking about tens of thousands of merchants who are really excited about the opportunity that Alipay offers them to tap into those affluent and middle-clbad consumers who travel to see the world and want to buy some great brands." Europe, "said Palmer in an interview of the Money20 / 20 Europe conference in Amsterdam.

Alipay is owned by Ant Financial, a Chinese private tech giant worth $ 150 billion last year. Palmer said the company's payment platform, Alipay, has "about a billion" active users. He added that 55 countries now accept Alipay worldwide, with 29 countries in Europe alone.

Chinese consumers have been among the fastest to adopt digital payments. A study conducted in 2018 by the EY accounting firm revealed that 83% of Chinese consumers made payments or transfers of funds on their phones.

Trade tensions with the United States and slowing economic growth have recently raised concerns about the health of the Chinese economy. But Palmer dismissed fears of weakness among Chinese consumers, saying tourism is "booming" in Europe.

This has presented an opportunity for European merchants, especially luxury brand stores, who are looking to capitalize on an influx of tourists, said Palmer.