AliPay History
In 2004, AliPay was first created as the payment department of Taobao, the B2C platform of Alibaba Group. When eBay acquired Eachnet.com in China, Taobao viewed the acquisition as a threat to its marketplace business. To solidify its competitive advantage, Taobao set about trying to solve one of the biggest problems for ecommerce in China back then: The trust between buyer and seller. » Read More AliPay backed this up with a few key strategies that aided its success. Firstly it focussed on upping the authorization rate to improve the user experience. Secondly it spotted the potential for mobile commerce and established itself as the dominant payment vehicle in that space. Thirdly, in a cunning bid to enhance user stickiness, they began paying interest on the wallet balance (Emoney) of its users in excess of the rates offered by banks. By 2013, with its strategy paying dividends, AliPay overtook the long-established PayPal as the largest mobile payment platform in the world. » Read Less
AliPay Statistics
million registered users
million daily users
million transactions per day
% of transactions through mobile device
Billion pounds parent company market capitalization
Emoney and Payment Institutions
If you want to streamline your path to enabling AliPay and keep your costs to a minimum then you are in the right place. For non-Chinese companies the path to a partnership with AliPay is difficult and strewn with barriers and delays.
We have the network and knowhow to solve this problem. Through our industry connections we have the ability to enable AliPay for Payment Institutions and E-money providers. You can have a brand new revenue stream rolled out to your merchant base within weeks.
Merchants have been quick to see the opportunity of early adoption and we are increasingly seeing ecommerce companies accepting AliPay or WeChat Pay, including hotels, high-end retailers and education institutions. There is a distinct advantage in early adoption so now is the time to Contact Us.
Benefits of AliPay
- Improved conversion rates
- Higher average transaction values
- Assistance with marketing to consumers
- An added demographic generating extra revenue
We can save you time, money and stress and help launch you into new revenue streams.
AliPay is a QR-based payment system with a similar payment flow and customer base as WeChat.
Both payments can be installed on the same shop terminal. For websites a dynamic QR code can be created during the transaction.