Ali­pay, US on­line pay­ment startup for part­ner­ship

China Daily (Canada) - - NEWSCAPSULE -

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)

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