The other all-in-one app

WeChat is no longer China's only killer app; Alipay is going global and comprehensive

Late-mover advantage, or how innovative newcomers outperform pioneers, is what propelled Alipay toward the pinnacle of mobile payments and related digital services in China. Now, Alipay is expanding globally, unfolding a saga of success breeding more success.

At the turn of the 21st century, China had no entrenched credit card culture. Smaller online businesses with relatively low sales volumes were unable or unwilling to accept credit card payments due to high transaction fees. It was too costly to build their own fraud-proof e-checkout systems.