Alipay Wallet reached 100 million mobile users
Alipay announced that after their Single’s Day sale that occurred on November 11, their mobile wallet, Alipay Wallet, is closing in on 100 million users. The amount of users has led their parent company, Alibaba to spin off the wallet service into its own brand, rather than to remain a product of Alipay.
Alipay also revealed that their mobile wallet makes up a third of Alibaba’s daily transactions, and that they have seen mobile transactions grow 800% year after year.
On November 7th, Alibaba’s 460,000 marketplace merchants have begun offering payment through the mobile wallet. Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term are made via QR codes that are displayed on the screen, and need to be scanned by Alipay’s app.
We have published many articles on mobile payments, and it seems that China is no different. With those outstanding figures, we will not be surprised to see more merchants and marketplaces following their lead.
Photo courtesy of Flicker
Alipay announced that after their Single’s Day sale that occurred on November 11, their mobile wallet, Alipay Wallet, is closing in on 100 million users. The amount of users has led their parent company, Alibaba to spin off the wallet service into its own brand, rather than to remain a product of Alipay.
Alipay also revealed that their mobile wallet makes up a third of Alibaba’s daily transactions, and that they have seen mobile transactions grow 800% year after year.
On November 7th, Alibaba’s 460,000 marketplace merchants have begun offering payment through the mobile wallet. Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term are made via QR codes that are displayed on the screen, and need to be scanned by Alipay’s app.
We have published many articles on mobile payments, and it seems that China is no different. With those outstanding figures, we will not be surprised to see more merchants and marketplaces following their lead.
Photo courtesy of Flicker