Chinese Alipay Launched as a Global Payments Option Located in the Asia-Pacific market the world's future Internet super-power China's largest e-commerce company, the Alibaba Group, which also owns Alibaba.com, Taobao, Yahoo! China and Alisoft launched Alipay as a global payments option for Chinese customers including 12 major currencies.

From PRNewswire:

'As of August 20, 2007, Alipay had more than 47 million users in China, growing at a rate of more than 80,000 new registered users each day. Alipay's average daily transaction volume exceeds RMB 150 million, handling an average 780,000 transactions each day.'

'Alipay is the largest online payment service provider in China with a market share of over 50%. '

'Alipay expects to expand its overseas partner list to over 100 retail websites by the end of the year, to cover product providers ranging from cosmetics, fashion, bags and jewelry to household and digital products. The company also predicts the international service will reach monthly transaction volumes of RMB 800 million by the end of 2007.'

'Alipay's first international partner retailers include Sa Sa International Holdings Limited, a leading Asian cosmetics retailing and beauty services group; StrawberryNET, the world's leading provider of discounted designer skin care, make-up, cosmetics, perfume and men's and women's fragrances; and J Shoppers, a subsidiary of Japan's largest listed mail order company Nissen On- line, focusing on mail order sales outside Japan.'

Alternative payment platforms are catching up, become more and more popular and with the progress of eCommerce they represent a big step forward in terms of user friendliness improving one's digital lifestyle and I'm excited how Chinese customers will shop across the world.

Global market leader PayPal got another formidable competitor!

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Labels: alipay, AsiaPacific, bizdev, china, payments

  ¶ 'Chinese Alipay Launched as a Global Payments Option' posted by eA : 11:33 AM