Posts Tagged “AliPay”

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


Alipay

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.  


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.


CardinalCommerce and Alipay Form Partnership

Alipay is the latest payment brand to be enabled through Cardinal's patented eCommerce payment platform, Centinel®


Computop Offers Alipay | Enables Merchants to enter Chinese Market

LONDON | Computop, a leading payment service provider (PSP), today announced the addition of Alipay, a commonly used third-party online payment solution in China, to its Paygate payment platform. As a result of this cooperation, Computop Paygate customers will benefit from being able to provide Alipay as a payment option to their customers. This will help to support merchants’ expansion into the region, where online retail sales have been rapidly growing and are expected to continue to increase.


eGHL internet payment gateway launched in Malaysia

MALAYSIA | GHL Systems has today launched its eGHL internet payment gateway in Malaysia. eGHL will enable online merchants from small, medium or large enterprises with an online presence to start accepting payments for their e-commerce sales. eGHL's launch was attended by representatives from Bank Negara Malaysia, MyClear, VISA, Mastercard, local commercial banks, channel partners and merchants.


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.


Computop launches China Paygate solution

GERMANY | Computop strengthens its position in world’s second largest e-commerce market with the launch of its local China Paygate solution. A payment gateway that grants access to all major Chinese online payment methods and local acquiring banks in China - including Alipay, 99bill, China Union Pay and Yee Pay.


PayGate adds China Union Pay, AliPay and Tenpay to its payment methods

SEOUL | PayGate, a South-Korean based payment service provider starts providing all major prepaid payment service for the Chinese ecommerce market. PayGate's payment method offering includes China Bank Union‘s CUP service and China’s biggest online-offline payment solution by internet companies' AliPay/TenPay.


Stripe Checkout gets China's most popular payment method Alipay

SAN FRANCISCO | US payments firm Stripe partners with Alibaba’s payments service Alipay and adds this popular Chinese payment method to its Stripe Checkout (merchant can sign up for beta). The partnership enables Stripe's merchants to tap into the booming Chinese ecommerce market with 1.3 billion people. At the same time it paves the way for Alibaba to expand its Alipay payment service to the West. Alipay is China’s most popular online payment method, used for over half of Chinese internet transactions. 


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