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Posts Tagged ‘ Alibaba ’

Tencent has applied for a license in Malaysia to offer local payment services via its WeChat Pay, reports Reuters.

 

If approved, users in Malaysia will be able to link their local bank accounts to WeChat Pay and pay for goods and services in ringgit.

 

WeChat Pay and Alibaba Group’s affiliate Alipay are turning China cashless by enabling payments or money transfers via code scan.

 

The pair are also expanding internationally in tandem with outbound tourism, getting more businesses to accept their services which allow users to make payments using bank accounts in China without complications posed by currency exchange.

 

Licenses for such cross-border payments differ from those required for local payment services. Hong Kong is currently the only location outside mainland China where WeChat Pay and Alipay offer payment services executed entirely in the local currency.

 

Alipay introduced a separate app for the Hong Kong market in May, its first non-yuan payment app.

 

Alibaba Cloud, the cloud computing branch of China-based ecommerce company Alibaba, has unveiled plans to open data centres in Mumbai and Jakarta.

 

The expansion into Indonesia follows the country’s 1,000 Start-ups Movement initiative to establish 1,000 new ventures by 2020 with a target valuation of USD 10 billion.

 

Alibaba says that both data centres should be up and running during the current fiscal year, which ends on 31 March 2018. The initiative will boost the ecommerce company’s computing resources in Asia and worldwide. The two new data centres will join Alibaba’s global networkwhich currently has 17 locations in mainland China, Australia, Germany, Japan, Hong King, Singapore, the United Arab Emirates and the US.

 

Alibaba entered the cloud computing industry in 2009, three years after Amazon launched its AWS cloud division.

China remains the largest global eCommerce market in terms of trading value, accounting for over 40% of the total transactions.

 

Transactions through eCommerce platforms have reached CNY 26.1 trillion (USD 3.8 trillion) in 2016, increasing by 19.8% from 2015, according to a Sina news report citing data from the Ministry of Commerce.

 

Ecommerce-related services have accumulated a value of CNY 2.45 trillion (USD 357.5 billion) in 2016, growing by 23.7% from 2015.

 

This growing market is sustained by the increasing number of internet users who reached 731 million or 53.2% of the country’s population. Online shoppers account for 467 million, or 63.8% of internet users. Another 441 million use mobile phones to place orders showcasing an annual growth rate of 29.8%.

 

The eCommerce market’s growth in China is due to the fast expansion of Alibaba’s Taobao and Tmall marketplaces and Tencent-backed JD.com platform. The report shows that clothing, electronic appliances, mobile phones, digital goods, food and drink are among the most traded goods on eCommerce platforms.

 

 

Ant Financial, the payment affiliate of Alibaba, has claimed that its number of daily active users doubled in 2016.

So far, the company has not yet disclosed data about the total number of active daily users, but it has reported that over 450 million people use its Alipay service for payments and various financial services like wealth management and insurance.

Launched in 2004, Alipay provides payment services for Alibaba’s ecommerce platform. Currently, it controls 54% of the total market shares, but competitor Tencent has made significant advances in 2016 to secure a wider market share. Now, Tenctent’s WeixinPay has a 37% market share.

Both competitors have expanded their payment services to physical stores. Tencent said that 29% of all in-store Starbucks purchases in mainland China were made through WeixinPay. In a similar move, Ant Financial managed to sign a deal with First Data that could give the company access to a potential 4.5 million merchants in the US. Similar agreements have also been signed in Europe with Ingenico and BNP.

The market has been expecting on an IPO from Ant, valued at USD 60billion at its last funding round in 2016, but it is currently off the agenda, at least until the end of 2018, the Financial Times reported.

Alipay to launch in the US

By on May 12, 2017

 

Alipay, the mobile payment system offered by Alibaba, has announced is coming to the US, thanks to a deal brokered with First Data.

The expansion follows limited trials in California and New York, and will bring Alipay into direct competition with Apple Pay, Android Pay, and PayPal. Alongside online payments and money transfers, Alipay users can also hail a taxi, book a hotel, and buy movie tickets directly from within the app.

The partnership will allow Chinese tourists who visit the US to use their mobile phones to complete transactions at 4 million merchants and retailers around the country.

Alipay has about 450 million customers worldwide, but Alipay’s deal with First Data aims to offset the mobile payment’s loss of ground in China.

alibaba-drone

Is drone delivery the future of ecommerce? That’s an open question, but the concept looks to be taking a big blow in China this month, with authorities slated to roll out regulations that will reportedly ban urban drone delivery.

 

Currently, drones exist in a relatively unregulated space in China. But at the General Aviation Development Summit in Beijing last week, China Aircraft Owners and Pilots Association (AOPA) secretary Ke Yuyu revealed that a new set of draft regulations on drones are due to be released this month. These new rules have already been passed by China’s Civil Aviation Administration and are currently in the middle of other approval procedures.
As they stand, the regulations don’t look good for those who were hoping that drones would one day replace China’s fast-delivery bike couriers. Ke says the regulations would require registration and aviation authority approval for drones over 25 kg (55 lbs), and drones capable of carrying cargo or weighing more than 150 kg (330 lbs) would be subject to even more stringent restrictions. But passing those restrictions won’t change things for ecommerce players, because according to Ke the regulations ban drone delivery outright in congested urban areas.

 

These regulations haven’t been formally passed or even released yet, so it’s possible that Ke is mistaken or that the final draft could include changes. Certainly, ecommerce players with plans for drone delivery (like Alibaba) may want to lobby aviation authorities for looser rules. And of course, we still don’t know the specifics, so it’s possible the regulations sound harsher in summary than they are in actuality.

 

Whether they’re as harsh as they sound or not, the new rules likely aren’t a permanent ban. Instead, they’re more of a recognition that drone technology isn’t sophisticated enough yet. In its current state, drone delivery in urban environments could be dangerous due to the high number of obstacles and the high probability of people getting hurt if there is an accident. So while urban drone delivery will be banned for now, it might well be unbanned at some point in the future if authorities are convinced the technology is there to do it safely.