Alipay
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Owned By: Alibaba Group
Users: +270 Million (US$176 million daily volume) Available: Worldwide |
Alipay is a must if you have Chinese scripted sites or want to sell to the Chinese. Alipay is China’s leading online payment service by both number of users and total transaction volume. Alipay is basically the PayPal of Asia and works in a similar way. Like PayPal, Alipay is also owned by a giant online auction website called Taobao which is the eBay of China. As of 28 Aug 2008, AliPay had more than 100 million users and a daily transaction volume exceeding RMB450 million, through more than 2,000,000 daily transactions.
Alipay has 460,000 external merchants that use the system for their as a payment option for their online stores. Alipay is a good way for consumers in Asia to buy your goods and services, especially those in China; for the western market, PayPal is still the preferred alternative.
The huge transaction numbers suggest Alipay is a huge system trusted by the Chinese. Of all 3rd party payment transactions in China, Alipay had 55.62% and ChinaPay had 17.28%. PayPal only has 0.46% so if you are looking to get Chinese scripted websites up and running then I would highly recommend you consider Alipay as a payment option because PayPal will be almost useless.
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