Alipay sets sights on serving overseas customers

Alipay, one of China's most popular mobile payment apps, took a big step toward globalizing its services when it secured a third-party payment license in Hong Kong on Aug 25.

With this stored value facilities license, Hong Kong users can now use Alipay's e-wallet functions and enjoy merchant discounts.

Although Alipay has been in the Hong Kong market since 2007 and already works with about 6,000 merchants, including department stores, hotels and theme parks, its usage has largely been limited to mainland users due to Chinese central bank regulations, which allow only people with a bank card issued in the Chinese mainland to store credit in their accounts.