We are at heart a payment processing company whose aim is to simplify payment solutions for our merchants. One of the ways that we do this is by working with Alipay to provide Alipay payment solution for merchants who seek to attract Chinese customers or who do a lot of business with Chinese customers.
We are aware that millions of Chinese outbound travelers come to the U.S. yearly with a huge buying power, and that the larger proportion of these customers encounter difficulties in purchasing products and services because they don’t have a U.S. credit card. We therefore partner with Alipay to enable merchants to accept payment from these Chinese customers.
This has proven to serve as a huge boost for business growth. We find more and more of our merchants taking advantage of this unique service offering.
Alipay is a third-party online payment platform, and is the most popular mobile payment solution in China. As at October 2016, Alipay had the biggest market share in China with 400 million users and had control of about half of China’s online payment market. This means that one out of two Chinese consumers use this service, both at home and while abroad.
We provide free signage to interested merchants to indicate Alipay acceptance.