New ePass opens doors to China

China has 300 million online shoppers – and they’re about to find it easier to shop online in the US.

Alibaba spinoff Alipay is launching a product called ePass which will simplify the online shopping process and allow Chinese to shop outside the mainland without an international credit card, which makes offshore purchases more expensive.

The new service has already been beta-tested with several online retailers including H&M and Gap. Now it will be offered to any US retailer interested in targeting English-speaking, cashed up young professionals. That’s a big market: last year, China’s half billion online shoppers spent US$298 billion via the web.

Jingming Li, president of Alipay US, says the company wants to “demystify” the Chinese consumer and help ease “the friction” of cross-border transactions.

Chinese shoppers on partnered US websites will see an ePass logo alongside the usual credit card logos when they reach checkout, allowing them to pay in Yuan from their Alipay account.

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