Chinese online payment system Alipay is spreading its wings far beyond China. The popular payment platform is now available down under.
The Alipay subsidiary, appropriately titled Alipay Australia, follows the recent launch of the company’s ePay Payment Program in the US, reports China Daily.
In conjunction with the Australian Postal Department, Alipay will provide access at 4,400 Australian stores and outlets. The local presence will give Australian consumers access to TMall and Taobao, and facilitate cross-border e-commerce. The joint agreement is expected to help Australian companies quickly expand into Chinese markets.
According to Forbes, Alipay is the largest mobile payment processor in the world, clearing approximately 80 million transactions per day, and processed US $780 billion worth of transactions in the year ended June 30.
Alipay is owned by Alibaba, which listed this year on the New York Stock Exchange.
Photo: China Daily
