Alipay Reaches 100 Million Mark October 1, 2008
Posted by mniring in Online Merchants, Sell to China.Tags: Alipay, China stats, Chinese consumers, E-commerce in China, eCommerce, Merchant Account, Payment Solution, Sell to China
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Alipay, China’s most popular online payment platform, reached 100 million registered users at the end of August. Alipay is now the second largest payment platform in the world, right after PayPal, with its 180 million users. Alipay currently boasts a 76% share of the online payment processing market in China.
What is particularly notable about Alipay’s success, is that they have reached the 100 million milestone in only 5 years. It took Paypal 10 years to achieve the same mark . It is also important to point out that Alipay’s member base is strictly Chinese citizens. Paypal’s user base is dispersed around the world.
The incredible speed of Alipay’s development is directly related to the development of online consumers and Interet users in China as a whole. China currently has the largest number of people online in the world, representing a mere 22% of the Chinese population.
The huge potential of this burgeoning market and its implications for online merchants wanting to sell to China, goes without saying. While online shopping rates in China currently lag behind those of other countries, it will only be a matter of time before China boasts the largest e-commerce market in the world.
Is your company ready to capitalize? Click here to find out how Paystone can help your eCommerce store tap into this massive network and start selling to China today.
Sources: Alipay.com, China Internet Network Information Center , China Tech News