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Posts Tagged ‘ Alipay ’

Payment solutions provider GHL Systems has partnered Alipay to offer Malaysian in-store merchants and online merchants an alternative payment option.

 

The service rollout is set to start with the in-store merchants before the end of April 2017 and will eventually be extended to ecommerce merchants.

 

GHL had started its partnership with Alipay in 2016 in Thailand, which allowed both sides to familiarise themselves with the operational methodology. To-date, GHL Thailand has enabled over 600 merchant acceptance points with various chain stores in the hotel, retail and food and beverages space.

 

In 2016, Malaysia had received 26.8 million tourists, including 2.1 million tourists from China, contributing close to RM82.1 billion in revenues, The Star reports.

 

GHL provides integrated payment solutions encompassing physical and virtual payments on sale and rental basis, including Electronic Data Capture (EDC) terminals compliant to the Europay-Mastercard-Visa (EMV) platform, contactless readers, network access routers, and online payment gateways.

 

 

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.