Alipay Archives - Page 12 of 12 - Inside Retail Asia

Alibaba files for US IPO

Chinese e-commerce giant Alibaba has formally filed to go public in the US in a bid to raise $1 billion. However, the IPO is expected to ultimately raise $15 billion to $20 billion, surpassing Facebook’s $16 billion in 2012. The listing could value it at around $200 billion, more than that of Facebook, eBay and Amazon.com. Alibaba operates e-commerce portals Tmall and Taobao as well as online payment provider Alipay. “Although the value of Alibaba has been focused on the strength i…

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 …

Alipay ceases offline payments

Alipay has withdrawn payment services at traditional stores in China. The Alibaba Group subsidiary’s spokeswoman, Teresa Li, confirmed the news but declined to elaborate. Alipay started as an online payment business but expanded its payment services to traditional stores. However, it has been struggling to compete with state-backed China UnionPay, which is boosting its effort to improve services. It has more than 10,000 devices in stores and it is arranging for banks to serve the mercha…

Microsoft teams up with WorldPay in China

Software giant uses alternative payments programme to capture growth in China.

PayPal ready for China

PayPal expects Chinese license to process electronic payments.