Alipay, US online payment startup for partnership
Alipay, Alibaba’s Group payment arm and China’s largest third-party payment service provider, announced a partnership with the United States online payment startup Stripe.
Under the agreement, overseas merchants who use Stripe’s payment software can now detect if shoppers are located on the Chinese mainland and give them the option of paying through their Alipay accounts.
The move is expected to be welcomed by Chinese shoppers who are not happy with providing their credit card details to overseas websites but who use Alipay as an alternative payment solution.
Li Ye, an analyst at Analysys International, an Internet consultancy in Beijing, said that Alipay’s building up its own overseas financial channels from scratch would be too time consuming. (Photo 5)