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Stripe software signs with Alipay, WeChat

Stripe software company has partnered with Alipay and WeChat Pay to help Singapore and regional businesses tap into the Chinese consumer market.

This means Singapore e-commerce companies can now accept payments from Chinese consumers, arriving in their bank accounts as Singapore dollars. The Alipay and WeChat Pay have more than 1 billion users collectively – 92 per cent of the mobile wallet ecosystem – while the Chinese market has more than 731 million internet users

Stripe-powered companies will be able to activate both payment methods in just a few clicks, and for the first time, Alipay is offering recurring payments. Alipay one-time payments will be generally available to Stripe users globally, while recurring payments and WeChat Pay support will be in private beta.

Stripe’s new partnerships coincide with the  e-commerce payment software company’s official launch in Hong Kong. Stripe processes billions of dollars a year for hundreds of thousands of businesses spanning 25 countries.

Its services include fighting fraud, dealing with regulatory complexity, paying out to third parties and providing real-time analytics about revenue. 

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