Alipay crosses the Pacific for business in the US
Chinese billionaire and the leader of huge tech conglomerate Alibaba Jack Ma has his sights set on the United States and one step towards expanding his empire will be launching Alipay mobile payments in the country. Ma’s Ant Financial jointly announced with payments processor First Data.
100,000 international retailers across 70 markets are already taking Alipay at their businesses. Some, such as Beard Papa and but the deal would bring over 450 million Alipay users to 4 million businesses in America from online to QR-scanned. At this moment, users in the country can sign on with Mastercard or Visa cards through the site. Bloomberg claims that American Express cards can be held in accounts as well.
Alipay extended a branch to US e-retailers in 2014 with ePass, letting Chinese consumers easily pay for goods. This move cements Chinese expats ability to easily pay while on vacation or tuition in the United States.
Alipay, along with WeChat Pay from Tencent, hold 90 percent of the mobile payments market in China, but Ma has an uphill climb against a dissonant market between retailers with proprietary apps and payment methods and more accessible tap-and-pay solutions like Android Pay, Apple Pay and Samsung Pay.