国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Companies

China's Alipay offers mobile wallet for US sites

(Agencies) Updated: 2014-10-16 11:53

China's Alipay offers mobile wallet for US sites

A receptionist works at

China's half billion online shoppers will soon have an easier way to shop in the US

Alipay, the payments unit recently spun off from Chinese e-commerce powerhouse Alibaba, is launching a service for US retailers called ePass. Alipay has already been working in beta mode with retailers such as luxury deal site Gilt.com, The Gap and H&M.

"We want to demystify the Chinese consumer for US retailers," said Jingming Li, president and chief architect of Alipay US, which has a US base in Santa Clara, California, alongside its affiliate Alibaba.

Alipay targets English-reading young professionals in the four biggest regions of China (it doesn't offer a translation service).

The move will let US retailers tap into the estimated 500 million Chinese online shoppers who spent $298 billion online in 2013. EPass will be available to any US retailer interested in reaching the Chinese consumer, Li said in a press briefing.

And it comes as the payment-services category is heating up with new offerings including Apple Pay, and eBay's plan to split off its PayPal payments business next year.

Cross-border shopping is growing. PayPal, which also offers cross-border payment services, estimates that by 2018, there will be 130 million cross-border shoppers spending over $300 billion globally.

It is possible for a Chinese customer to make purchases on US retail sites without ePass, but the process involves using an international credit card and typically brings mark-ups on Western products. EPass aims to ease the "friction" of international purchases, Li said.

Users of ePass will see an ePass payment option when they check out on a retailer's site. Chinese shoppers pay in yuan using their Alipay account and Alipay transmits the payment to merchants in 14 currencies via 180 international financial institutions. Customs duties are calculated at checkout.

Alibaba started Alipay in 2004 to facilitate payments on its web sites and spun off the unit in 2011 into a company controlled by Alibaba CEO Jack Ma. Because it was spun off, Alipay was not part of Alibaba's mammoth $25 billion IPO in September, the largest ever.

Alipay says ePass can provide retailers with payment processing services, as well as shipping logistics and marketing services as needed. Alipay will take a cut of each transaction but did not specify how much the percentage is.

China's Alipay offers mobile wallet for US sites

China's Alipay offers mobile wallet for US sites

Top 10 richest IT geeks in China Top 10 richest real estate tycoons in China

Hot Topics

Editor's Picks
...
...
曲麻莱县| 尖扎县| 庆元县| 高州市| 双桥区| 凌云县| 吴川市| 宣城市| 突泉县| 宁陕县| 翁源县| 合肥市| 和龙市| 图片| 喜德县| 汕头市| 杨浦区| 和静县| 遂溪县| 高碑店市| 买车| 宁南县| 呼伦贝尔市| 根河市| 南岸区| 文安县| 嘉禾县| 裕民县| 湖北省| 白水县| 泰顺县| 楚雄市| 平乡县| 黔江区| 和静县| 铜陵市| 丹巴县| 涿州市| 丰县| 梧州市| 泽库县|