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Posts Tagged ‘ Alipay ’

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.

 

Concardis, a payment service provider, has announced that it will support Alipay payments in Austria and Switzerland.

 

In Austria, Gössl is the first merchant that allows Chinese consumers to pay using their smartphones with the Alipay app. The clothing brand will start by supporting the app in 20 stores in Austria and plans to extend the service to seven other stores in Germany.

 

Concardis also intends to launch the Chinese payments app in Switzerland by October 2017. The first integration will take place with jewellery merchants like Wempe, TOD’s and Timberland.

 

The payment service provider has already managed to launch Alipay in Germany, where the payment method is accepted at several hundred store locations. Most recently, football club Borrusia Dortmund, which has a large fan base in Asia, has implemented the Chinese payments app in its souvenir shops.

 

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.