Business / Trendsetters

Overseas services boosted by Alipay

By MENG JING (China Daily) Updated: 2014-06-26 04:51

Overseas services boosted by Alipay

A receptionist works at Alipay's headquarters in Hangzhou, capital of East China's Zhejiang province, in this Jan 10, 2014 file photo. [Photo/Xinhua]

Alipay, the e-payment arm of China's Internet giant Alibaba Group, is boosting its global presence amid a rising appetite for overseas shopping by increasingly wealthy but choosy Chinese consumers.

Alipay, the largest third-party payment solution provider in China, announced on Wednesday a partnership with the United States online payment startup Stripe.

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Under the agreement, overseas merchants who use Stripe's payment software can now detect if shoppers are located on the Chinese mainland and give them the option of paying through their Alipay accounts.

The move is expected to be warmly welcomed by Chinese shoppers who are not happy with providing their credit card details to overseas websites but who use Alipay as an alternative payment solution.

Li Jingming, head of Alipay US, said in an e-mailed statement to China Daily that there is a huge demand for high-quality Western products and services in China.

"We're excited to be cooperating with Stripe in helping to accelerate the introduction of Western brands into China and in turning global online shopping into a simple and enjoyable experience for Chinese consumers," he said.

Stripe didn't disclose the number of merchants Alipay is cooperating with, but said it now allows online merchants to conduct transactions using 139 currencies and bitcoin, a virtual currency. It also plans to form more partnerships with popular payment providers in regions where credit cards are not widely used, according to media reports.

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