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Alipay.com

Alipay is China's leading third-party online payment solution, providing an easy, safe and secure way for millions of individuals and businesses to ma

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INTRODUCTION

Alipay is China's leading third-party online payment solution, providing an easy, safe and secure way for millions of individuals and businesses to make and receive payments on the Internet. As of December 2010, Alipay had more than 550 million registered users and facilitated around 8.5 million transactions daily. Alipay provides an escrow payment service that reduces transaction risk for online consumers. Shoppers have the ability to verify whether they are happy with goods they have purchased before releasing funds to the seller. Alipay was a key catalyst in the growth of the online retail market in China from RMB 1 billion in gross merchandise volume (GMV) in 2003 to RMB 248 billion in GMV in 2009. Alipay is the preferred online payment tool of Internet merchants due to its innovative product technology, unique concept and large user base. In addition to Taobao and Alibaba.com, Alipay provides payment solutions in China for more than 500,000 external merchants for online retail, virtual gaming, digital communications, commercial services, air ticketing and utilities fee payment transactions. Alipay partners with more than 65 financial institutions, including 19 leading national and 45 regional banks across China, as well as Visa and MasterCard. In addition, Alipay also facilitates offline value-added services through a strategic partnership with China Post, which has coverage of rural areas and university campuses. In April 2010, Alipay announced that Alibaba Group will invest a total of RMB5 billion (USD732 million[2]) over the next five years to enhance infrastructure security; develop products to improve ease of use and convenience for customers; continue to grow a massive number of consumer accounts; build a comprehensive network of merchants; and retain and attract top-tier talent from the payments industry. Alipay is an affiliate of Alibaba Group.  


E-wallets will equal cards as the most popular payment method globally.
In 2012, $295 billion was processed through e-wallet payments. This is set to rise to $1,656 billion by 2017.

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COMPANY DETAILS

Alipay is China's leading third-party online payment solution, providing an easy, safe and secure way for millions of individuals and businesses to make and receive payments on the Internet. As of December 2010, Alipay had more than 550 million registered users and facilitated around 8.5 million transactions daily. Alipay provides an escrow payment service that reduces transaction risk for online consumers. Shoppers have the ability to verify whether they are happy with goods they have purchased before releasing funds to the seller. Alipay was a key catalyst in the growth of the online retail market in China from RMB 1 billion in gross merchandise volume (GMV) in 2003 to RMB 248 billion in GMV in 2009. Alipay is the preferred online payment tool of Internet merchants due to its innovative product technology, unique concept and large user base. In addition to Taobao and Alibaba.com, Alipay provides payment solutions in China for more than 500,000 external merchants for online retail, virtual gaming, digital communications, commercial services, air ticketing and utilities fee payment transactions. Alipay partners with more than 65 financial institutions, including 19 leading national and 45 regional banks across China, as well as Visa and MasterCard. In addition, Alipay also facilitates offline value-added services through a strategic partnership with China Post, which has coverage of rural areas and university campuses. In April 2010, Alipay announced that Alibaba Group will invest a total of RMB5 billion (USD732 million[2]) over the next five years to enhance infrastructure security; develop products to improve ease of use and convenience for customers; continue to grow a massive number of consumer accounts; build a comprehensive network of merchants; and retain and attract top-tier talent from the payments industry. Alipay is an affiliate of Alibaba Group.  

COMPANY ADDRESS

Zhejiang


China

PHONE & EMAIL

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Latest Company News

Alipay adds iDEAL and opens up AliExpress for Dutch shoppers

NETHERLANDS | The British payment provider PPRO, in cooperation with the Chinese Alipay, has integrated the Dutch iDEAL online payment method into the AliExpress online marketplace. iDEAL is the number one online payment method in the Netherlands. < [...] Read more


Alipay payment method now available to Rakuten's Ecommerce Shops

HANGZHOU | Alipay, the popular third-party payment service affiliated with China's Alibaba Group, on Monday announced a tie-up with Japan's leading e-commerce company Rakuten. About 250 shops under Rakuten Global Market, Rakuten's international shopping service, started accepting payment by Alipay last week. About 10,000 of the shops will eventually accept Alipay payments.   Ra [...] Read more


Alipay and CyberSource combatting fraud for entire Alibaba eCommerce portfolio

BEIJING | A partnership between CyberSource, a Visa company and one of the world’s largest providers of eCommerce payment management services, and Alipay, China’s leading online payment service, has led to improved fraud management practices across the entire Alibaba eCommerce portfolio. This includes AliExpress, Taobao and Taobao’s external merchants.   CyberSource Dec [...] Read more


Alipay closes acquisition deal with OnCard Payments

Chinese third-party online payment platform Alipay has reached an acquisition agreemen t with OnCard Payments, a wholly owned subsidiary of Oncard International. This is the first acquisition case disclosed since the People's Bank of China, China's central bank started to issue licenses of third-party payment business, according to tmcnet.com. As part of the agreement, clients from the Chinese mainland a [...]


Alipay Invades China’s High Streets With Mobile Barcode Payments

Alipay, the online payment division of e-commerce giant Alibaba, is today bringing the ‘mobile wallet’ to China’s streets and stores, allowing transactions between shops and their customers, who need only the Alipayapp on their phones Updates to the Alipay iPhone, Android and Nokia apps today will unleash the new mobile barcode payments feature. For end-users, all they need is an iPhone, Android or Nokia [...]


Alipay adds iDEAL and opens up AliExpress for Dutch shoppers

NETHERLANDS | The British payment provider PPRO, in cooperation with the Chinese Alipay, has integrated the Dutch iDEAL online payment method into the AliExpress online marketplace. iDEAL is the number one online payment method in the Netherlands. < [...]


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