Not only does AliPay guarantee the safety of each online transaction, it helps Internet users create their own trust profile which fosters a safe online payment environment.
As of, AliPay had more than 110 million users and a daily transaction volume exceeding RMB550 million, through more than 2,500,000 daily transactions.ĪliPay continues to extend its leadership in online payments to merchants outside of the Alibaba and Taobao marketplaces, with more than 460,000 external merchants using AliPay as their preferred online payment platform, including leading local brands Lenovo, CCTV, Aigo, and New Oriental.ĪliPay’s products and services are built on trust. Since its launch in 2004, AliPay has become the most popular and extensively used online payment tool for all areas of e-commerce in China, and is fast becoming the industry standard. Alipay works like an escrow service, solving the issue of settlement risk in China. Once a member of the Alibaba Group now affiliated with Alibaba under Ant Financial, it enables individuals and businesses to securely, easily and quickly send and receive payments online. More than 80 million merchants use Alipay for business over the course of a month, and the app has more than 2,000 partner financial institutions.
It has more than 1.3 billion annual active users as of June 2020 and processed $17 trillion worth of transactions in mainland China over the course of a year. Alipay is China’s leading online payment service by both the number of users and total transaction volume.
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