Alibaba Leader Highlights Success in China October 6, 2008
Posted by mniring in Online Merchants, Sell to China.Tags: Alibaba, Alipay, E-commerce in China, Jack Ma, Merchant Account, Online Merchants, Retail market in China, Sell to China
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In March of this year Jack Ma, the CEO and Chairman of the Alibaba Group, the largest e-commerce company in China, spoke in London about his company’s achievements and growth. He also highlighted the success of Alipay, the most popular online payment gateway in China.
As the lead founder of Alibaba, Ma spoke passionately about his vision for the company, its role in China and the obstacles faced at the outset. “Most people say that internet will be big trouble in China. China cannot have e-commerce, because China does not have the infrastructure for the internet, for e-commerce. China does not have the trust record, China has a problem with payment … We did not believe that kind of assumption.” Ma went on to say, “We have been persisting for nine years in China. People say there is no trust, we build Ali trust. People say there is no payment, we build Ali pay.”
Other facts brought up by Mr. Ma brought up about the Alibaba group:
– Alipay is the largest online payment system in China with 85% of the market share
– Alibaba.com boasts more than 100,000,000 page views per day
– When eBay first entered the Chinese market in 2002, they held 90% market share, with Alibaba at a mere 5%. After four years, the numbers were reversed and Alibaba is now firmly on top.
The success of the Alibaba Group, as Ma stated, “… proved that China has its own way of e-commerce.”
Paystone’s partnership with Alipay allows North American online merchants to access Chinese shoppers on their own terms, offering consumers their preferred payment system. Tap into the massive online market in China quickly and seamlessly with Paystone’s Merchant Account.