Chinese Ecommerce and internet giant Alibaba has come to agreement to offer its payment solution Alipay as a payment option for international cross border Japanese Ecommerce platform Rakuten Global Market.
The new payment method, which is available on 250 Rakuten merchant stores, will allow Chinese users of the digital wallet to purchase goods from Japan. Overseas purchasing has grown in popularity over the past few years and Alibaba is leading the support by also launching “Tmall International” to allow non-Chinese Emerchants the ability to tap the largest Ecommerce market in the world.
This is not Alibaba’s or Alipay’s first foray into the Japanese market. Just recently Alipay was added to the supported methods of payment for Yahoo Japan’s shopping marketplace. As of Q1 2014 Alipay is already available on more than 100 Japanese merchants and the market has seen a growth rate of 300% YOY in 2013.
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Japan’s popularity in the Chinese consumer’s eye is mainly related to the Japanese Yen’s depreciation of the past few years.
Alibaba is also looking into providing services for customers outside of China as well by launching its US targeted 11 Main marketplace and already established AliExpress international marketplace.