TOP
| EN

Payment Asia, Alipay’s World Partner to SMEs

April 3, 2018

Together with the surge of Chinese economy, the advancement of China-based electronic payment gateway is not only dominating the domestic market, but also gradually changing the consumption and payment habit beyond its territory.  Starting from of a small branch of Alibaba, Alipay – now under Alibaba affiliate Ant Financial – is already the biggest gateway to the expanding China domestic and Chinese tourism market.  Payment Asia, a strategic partner of Alipay, is bringing the brand to the small and medium enterprises (SMEs) in Asia and other parts of the world.

From China to the Globe

Starting from the 21st century, the development of mobile payment in China catches the pace with the economy.  In 2016, the transaction volume of mobile payment in China was recorded more than $5 trillion [1], compared to the $11.2 trillion GDP in the same year [2].

While Chinese people becomes richer, they are more eager to travel abroad to spend money.  Chinese tourists spend the most in international tourism since 2012, and China topped the list with $261 billion [3].  As the leader of the prestige market, Alipay dominated the in-store transaction in Asia during Golden Week in 2017 [4].  The third-party payment platform never stops broadening its international coverage and now extends its footprints to European and North American cities where the shopping hotspots of wealthier Chinese tourists.  70 countries with 14 major currencies have been included in the payment platform [5].

As a long-term partner of Alipay, Payment Asia is determined to introduce the payment method to more SMEs around the world to benefit from the growing Chinese tourism. Payment Asia which offers one-stop solutions with competitive service packages is the privilege.

Alipay

Alipay, the no.1 third-party online and offline payment platform in China, promotes the world leading online and offline payment technology at all time.  The recent market data shows Alipay owned 54% of China mobile payment market in the first quarter of 2017 [6].  In term of the transaction shares of online payment market, Alipay also leads the China market [7].

For more details about Alipay, please send an e-mail to pa.pay@paymentasia.com.

Payment Asia

Established in 1999, Payment Asia has been committing to offer innovative online payment technology and electronic business management solutions to Hong Kong and overseas SMEs and multinational corporations.  Payment Asia provides merchants with comprehensive business solutions that includes simplified, cost-effective and real-time performance online payment processing credit card, debit card, and mobile devices.  Until now, Payment Asia has served more than 3000 domestic and foreign merchants.

[1]:  The figure is based on Analysis, a market research company in China. Link: https://www.cnbc.com/2017/10/08/china-is-living-the-future-of-mobile-pay-right-now.html

[2]: The figure is based on World Bank and reported by Trading Economics. Link: https://tradingeconomics.com/china/gdp

[3]: The figure is based on World Tourism Organization. Link: http://cf.cdn.unwto.org/sites/all/files/pdf/chinese_outbound_tourism_workshop_harmony_.pdf

[4]: The figure is based on the company announcement of Alipay. Link: http://fintechnews.hk/2640/mobilepayment/overseas-store-payments-alipay-increased-700-yoy-golden-week-2017/

[5]: The figure is based on Verge. Link: https://www.theverge.com/2017/5/9/15595338/alipay-us-expansion-china-apple-pay-android-paypal

[6]:  The figure is based on Analysis, a market research company in China. Link: https://www.cnbc.com/2017/10/08/china-is-living-the-future-of-mobile-pay-right-now.html

[7]: The figure is based on Analysis, a market research company in China. Link: http://www.analysyschina.com/view/viewDetail-223.html