China’s Alipay overtakes PayPal
Alipay has surpassed PayPal to become the world’s top mobile payment service.
A unit of Alibaba, Alipay has handled 900 billion yuan ($150 billion) payments from more than 100 million mobile users in 2013.
In its microblogging account Weibo, Alipay said mobile transactions in the past year have reached 2.78 billion, an indication that more and more Chinese are embracing mobile shopping.
Nearly 300 million users were using Alipay as at the end of 2013, almost half of China’s 618 million Internet users.