With 550 million registered users and an easy, safe way to make and receive online payments, Alipay is the foremost third-party payment solution. Founded as part of the Alibaba Group in 2004, Alipay has grown to facilitate over 8.5 million transactions, valued at more than 2 billion RMB every day. Alipay’s figures have surpassed PayPal, making it the world’s largest third-party online payment solution.
Alipay has fostered strong 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 additional local commercial banks, such as the Bank of Shanghai. Along with these valuable domestic partnerships, Alipay has several international partners, including Visa, MasterCard, Citibank, Standard Chartered, and others, which provides its members with a large variety of funding sources.
Since Alipay’s launch in 2004, it has become the largest third-party online processor throughout the world, handling more transactions per day than any other. And, as the number one payment option for Chinese consumers shopping online, it is essential to accept Alipay as a payment option, especially if you want to do business in China.
The easiest way to add Alipay as a payment option to your website is to use an online payment gateway. Let Transact24 help. We work with numerous Chinese and international merchants to help open up their businesses to the Chinese market through payment options. With our Alipay payment gateway, you’ll be able to accept payments in Chinese Yuan (￥) and receive settlement in the major currency of your preference.
If you would like to learn more about how Alipay processing solutions from Transact24 can help your business, please contact us and one of our sales representatives will provide you with all of the information you need to get started.
Contact us by phone, email or the contact form provided on our website and we will be in touch within 24-48 hours.