Alipay is the leading third-party payment solution, providing 550 million registered users with an easy, safe and secure way to make and receive payments online. Founded in 2004 and part of the Alibaba Group, Alipay has grown to facilitate over 8.5 million transactions per day with a volume that exceeds 2 billion RMB, surpassing PayPal to take the crown as the world’s largest third-party online payment solution.
Alipay have developed partnerships with all 19 Chinese national banks, including the Agricultural Bank of China, the Industrial and Commercial Bank of China, Bank of China, China Merchant Bank, as well as 40 other local commercial banks, such as the Bank of Shanghai. In addition to these domestic partnerships, Alipay has a number of international partners, including the likes of Visa, Mastercard, Citibank, Standard Chartered, and so on, giving registered members a vast array of funding sources with which to use Alipay.
Alipay is the largest third party online processor both domestically in China, and throughout the world, processing more transactions per day than any other, including PayPal. Being able to accept Alipay is essential when wanting to do business in China, as since its launch in 2004, it has grown to become the payment option of choice for Chinese consumers shopping online.
The easiest way to add Alipay as a payment option to your website is to use an online payment gateway, which is where we at Transact 24 can help. We work with numerous merchants, both inside China and internationally, to help them open up their business to both the Chinese market and it’s payment options. With our Alipay gateway solution, you’ll be able to accept payments in Chinese Yuan (￥) and receive settlement in the major currency of your choosing.
If you’re interested in learning more about Alipay processing solutions from Transact24, and how they can help you and your business, please get in touch and one of our sales representatives will be on hand to provide you with all of the information you’ll need to get started with us.
You can contact us in a number of ways; By phone, email or using the contact page provided on our website and one of our representatives will be in touch within 24-48 hours.