Online access to Western brands has been made even easier for Chinese shoppers, thanks to a partnership between Stripe and Alipay.
Stripe, often compared to Ebay’s PayPal, and Alibaba affiliate Alipay have struck a deal to solve the geographic constraints of credit cards.
Using Stripe’s payment software, merchants can now detect if a shopper is located in mainland China and give them the option of paying with their account on Alipay.
Stripe co-founder and CEO Patrick Collison said before the partnership, Chinese consumers needed to get a dual-currency international credit card in order to shop on overseas websites.
Jingming Li, group VP and head of Alipay US, said the cooperation with Stripe will help accelerate the introduction of Western brands into China, and to turn global online shopping into a simple and enjoyable experience for Chinese consumers.
Launched in 2004, Alipay is the largest online payment instrument in China. Used extensively by Chinese consumers to shop on the web and in mobile applications, Alipay has hundreds of millions of registered users.