Competitor Profile: Alipay
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Launched in 2004, Alipay is the largest alternative payment services provider globally in terms of transaction value. It is a subsidiary of Ant Financial Services, which is controlled by Alibaba Group. Alipay allows users to make fund transfers as well as online, in-app, and in-store payments at home and abroad. It is the primary method of payment for Alibaba’s online marketplaces, including AliExpress, Tmall, and Taobao. In FY 2019 ended March 31, almost 70% of gross merchandise value in Alibaba’s Chinese marketplaces was settled via Alipay. The solution has become mainstream in China, and is used to make payments for everything from retail purchases to taxi fares and hospital costs. Over 40 million Chinese merchants now accept Alipay as a payment method in their stores.
Alipay is now accepted in more than 110 countries, allowing Chinese tourists to make payments in Chinese yuan and settle the amount in 27 international currencies. Outside of China, Alipay’s strategy involves onboarding overseas merchants wherever Chinese tourists are likely to shop. As part of its expansion, it has partnered with over 250 overseas financial institutions and payment solution providers. This has made the service accessible to Chinese tourists in overseas countries, as well as to foreign customers who purchase products from Alipay-partnered Chinese e-commerce sites. Alipay is also available as a payment option for transport in over 120 cities across China, as well as in countries including South Korea, Hong Kong, Singapore, Malaysia, the US, Italy, and Australia.
Alipay launched the localized AlipayHK app for Hong Kong residents in May 2017. Initially the service was made available at over 2,000 merchants in Hong Kong. In April 2017, Ant Financial Services merged with helloPay, a payment solution developed by Southeast Asian online marketplace provider Lazada, which operates in countries including Singapore, Malaysia, Indonesia, and the Philippines.
The report provides information and insights into Alipay including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance, including its revenue model
– The company's important events and milestones
Scope
– In December 2004, Alipay was launched in China.
– Alipay offers transport payment services in 15 markets including China, South Korea, Hong Kong Singapore, Malaysia, the US, Italy, and Australia.
– In September 2017, Alipay launched the Smile to Pay feature, allowing users to make payments with a smile during checkout at stores.
– In July 2019, Alipay partnered with B2B payment service Flutterwave, enabling merchants to accept payments through Alipay in Africa.
Reasons to Buy
– Gain insights into Alipay's business operations and key events.
– Gain insights into its product portfolio and revenue model.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Ant Financial Services
Alibaba Group Holding Limited
AliExpress
Wirecard
ACI Worldwide
Samsung Pay
Apple
Tenpay
BBVA
UniCredit Bank
Ingenico
VeriFone
NETS
Table of Contents
Frequently asked questions
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Related reports
View more Financial Services reports

