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Brief Update of AliPay Global

Here’s a brief update of AliPay Global, after a closer review on its business online.

According to its website, the main business of AliPay Global currently are cross-border website payment, cross-border mobile payment, and Alipay ePass.

This indicates AliPay Global strategy: tax reimbursement, cross border e-commerce and its overseas public transit, especially in Singapore, Thailand, and Macau to serve for outbound Chinese tourists.

As an quick growing tool in e-payment, AliPay barcode payment has been kept greatly promotion with “virtual credit” in China, Hong Kong, Taiwan, and Korea, since last double 12 (Dec. 12, 2014). The “barcode payment” business works well in some large cities of China, but it’s still unavailable in Europe and most other regions.

From June 1, AliPay became legally the 3rd party, to deal with transaction between China banks, though it has done for many years. UniPay was the only player before in the section.

In the next 10 years, China mobile payment would be greatly moving forward without doubt. Those device-based mobile payment like Apple Pay has another good opportunity, since China is now the leading country in mobile payment, with AliPay and WeChat Wallet.