What is AliPay wallet?

Diego Katzman

Diego Katzman
Published 16/02/2021 · 3 min read

We are convinced that you have heard of AliPay wallet. And not because it's relatively new, but because it's one of the most popular in the e-marketplace. Ideal for eCommerce to attract more Chinese customers to your business with fast, easy and smart payments. Even better, it can give users the possibility to make payments with their mobile phone in a simple way. 

The main purpose of this system is to allow payment for any kind of product or service, as well as to offer financial features to users. Let's see what it is and how it works!

 

What is AliPay wallet and what is it for?

On the one hand, AliPay is a payment system created by the electronic giant Alibaba that allows payment via mobile phone. It is something like the 'Chinese PayPal', as it is known in this country for the ease of use and security it provides to users. On the other hand, a wallet is an electronic purse. So, AliPay wallet is a kind of digital wallet from which you can pay easily and conveniently with your mobile phone.

Not only does it allow users to create accounts on their Smartphones, link credit or debit cards and pay in restaurants, but it also makes it possible to top up mobile phones, buy in small stores, make transfers and pay bills, among many other things.

Did you know that it currently has more than 600 million active users?

 

8 reasons why eCommerce relies on AliPay wallet

Did you know that online stores that use AliPay appear on the page of the city where they are located? Here are the reasons why more and more merchants are joining this trend:

  1. It has no extra exchange rate costs, so it allows you to save money.
  2. It offers support in marketing promotions, with a visible store on the platform and the opportunity for Chinese tourists to find you.
  3. It opens the doors to more than 600 million consumers.
  4. It allows real-time monitoring, making it possible to track and improve decision-making.
  5. AliPay is a popular method, an ecosystem where all kinds of financial services coexist (transfers, loans, payments, etc.).
  6. It is a reliable method, the payment platform of China’s e-commerce giant, thus increasing users’ confidence.
  7. Checkout payment us a fast process, so you also save time.
  8. It's a very secure system with which you don't need to carry cash.

One of the most popular methods among the Chinese population!

 

How does Alipay work?

Don't think it's just a mobile payment method. This application includes many other useful options for the user and eCommerce. It's the place where both sides meet.

Among its wide range of features, there is the possibility to pay community, water or electricity bills, call a taxi or use the shared bicycles (OFO), in which Alibaba is a shareholder. All users need to do to start using this system is to link it to their mobile phone, with a photo, bank account and ID card. Easy, isn't it?

Its great popularity is due, in part, to its relationship with Aliexpress. In fact, most of the Chinese stores on this platform allow payments to be made through Alipay. However, China is not the only place where this app is used, as it is gaining popularity in other countries such as Spain, where it is already available for Chinese customers!

Are you an eCommerce and would like to expand the borders of your business? Then the best option is to integrate this payment method with a trusted provider, such as PayXpert. Not only will you have the trust of an official Alipay partner, experts in the Chinese payments market or the most innovative and secure technology for the collection of users, but also promotional campaigns, more than 100 integrated alternative payment methods, and a payment institution that is compliant throughout Europe.

 

What are the advantages of integrating Alipay into e-commerce?

To the question 'what is Alipay wallet', we need to go beyond its own definition. There are many benefits that eCommerce can obtain when it opens its borders to the international market. And while the best way to discover them is by living the experience, today we want to give you a preview of some of its main advantages. Are you ready?

Take note:

  • It is available in thousands of stores around the world.
  • Alipay wallet links different payment methods to a customer account.
  • It is a straightforward and easy to use method.
  • It promotes payment convenience.
  • It expands the growth and the possibilities of getting to know your business in other parts of the world.
  • It Increases payment security.

In short, it is a widely used method due to the possibilities of growth and security it offers. More and more Chinese people are joining mobile payments every day, which requires increasing the security of the methods they use, in order to protect them against fraud, piracy, phising or other threats.

That's why Alipay is expanding its horizons to new security alternatives, such as technologies based on biometric features (fingerprints or facial payment) to identify the users who use it. In short, there is an increasing focus on the security of payments based on this type of technological developments. 

 

What does PSD2 say about biometric recognition in online payments?

The new European regulation aims to strengthen the security of day-to-day banking operations in the online world. And in this context, biometric recognition has become one of the most efficient and secure options for authenticating the identity of users. Not only that, but it also aims to improve transparency and information, reduce fraud and streamline the purchasing processes.

Are you clear now on what Alipay Wallet is?

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