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 / Technology

China's Alipay offers mobile wallet for US sites

(Agencies) Updated: 2014-10-16 13:57

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
...
...
吴桥县| 淮滨县| 平武县| 巴南区| 平果县| 章丘市| 虎林市| 永寿县| 商水县| 阜城县| 杂多县| 河南省| 平遥县| 巫山县| 铜山县| 安多县| 吉安市| 葵青区| 嘉祥县| 元朗区| 蓬莱市| 宕昌县| 奉新县| 泾川县| 黑河市| 德格县| 门头沟区| 洪雅县| 正镶白旗| 乐业县| 精河县| 卢湾区| 珠海市| 曲松县| 张家口市| 太康县| 班戈县| 宁武县| 定南县| 昭觉县| 和政县|