What is Alipay?

Alipay is a third-party online payment platform with no transaction fees founded in 2004 by alibaba group in China. In the simplest terms, Alipay is an intermediary for payment, it’s like a bank account, or Paypal. Currently, Alipay has the largest market share in China with 300 million users and controlled nearly half of China’s online payment market in February 2014.

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Currently, alipay is being evaluated as 1 of 6 popular e-wallets in the world. According to a report by iResearch, in 2013, the transaction value through Alipay increased from 47.6 billion yuan to 905 billion yuan, 19 times higher than the previous year, the market share also increased from 31% to 74%. . This form of payment offers so many conveniences that it has seriously affected conventional forms of payment.

What is Alipay used for

?For customers who often need to import Chinese goods from alibaba’s e-commerce sites, the concept of Alipay is not too strange. Alipay offers a guarantee service, in which consumers can check that they are satisfied with the goods they have purchased before paying the seller. This is also a way to protect consumers when buying Chinese products on websites that operate under the C2C model and even control B2C quality.

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When owning an Alipay account, you can pay for purchase orders on all alibaba group sales websites such as taobao.com, 1688.com, tmall.com. aliexpress.com… in the most convenient way. You can also transfer money from your Alipay account to your bank card in just a few minutes. Currently, transactions through Alipay have grown strongly and popularly, having an Alipay payment account brings a lot of conveniences in online payments, from currency top-up to phone payments, currency top-up. pay for game cards, top up currency to pay for samples to the shop, top up currency to pay electricity and water bills, top up currency to pay for movie tickets, buy lottery tickets or book airline tickets… you can ask Alipay with just a few taps. work.

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