Alipay

Alipay
Native name
支付宝
Zhīfùbǎo
IndustryFinancial services
Payment processor
FoundedFebruary 2004; 20 years ago (2004-02) in Hangzhou, Zhejiang, China
FounderJack Ma
HeadquartersPudong, ,
China
Area served
Worldwide
ProductsElectronic payment processing
Banking
Mobile payment
ParentAnt Financial
Websitewww.alipay.com
Alipay
Traditional Chinese支付寶
Simplified Chinese支付宝
Transcriptions
Standard Mandarin
Hanyu PinyinZhīfùbǎo

Alipay (simplified Chinese: 支付宝; traditional Chinese: 支付寶; pinyin: zhīfùbǎo) is a third-party mobile and online payment platform, established in Hangzhou, China in February 2004 by Alibaba Group and its founder Jack Ma. In 2015, Alipay moved its headquarters to Pudong, Shanghai, although its parent company Ant Financial remains Hangzhou-based.[1]

Alipay overtook PayPal as the world's largest mobile (digital) payment platform in 2013.[2] As of June 2020, Alipay serves over 1.3 billion users and 80 million merchants.[3] According to the statistics of the fourth quarter of 2018, Alipay has a 55.32% share of the third-party payment market in mainland China, and it continues to grow.[4][5][6]

Along with WeChat, Alipay has been described to be China's super-app with a wide range of functionalities including ridesharing, travel booking and medical appointments.[7][8]

  1. ^ "支付宝总部迁址上海陆家嘴". Netease. 23 April 2015. Archived from the original on 28 September 2017. Retrieved 22 July 2017.
  2. ^ Shi, Song (2023). China and the Internet: Using New Media for Development and Social Change. New Brunswick, NJ: Rutgers University Press. p. 150. ISBN 9781978834736.
  3. ^ "Ant Group" (PDF). Hong Kong Exchange News. Archived (PDF) from the original on 20 October 2020. Retrieved 19 October 2020.
  4. ^ "8.7亿!支付宝首次公布用户量: 全球第一". 快科技 (in Chinese (China)). 4 May 2018. Archived from the original on 4 October 2018. Retrieved 30 September 2018.
  5. ^ "8.7亿!支付宝首次公布全球活跃用户数量". 新浪财经. 4 May 2018. Archived from the original on 4 October 2018. Retrieved 30 September 2018.
  6. ^ "Alipay is world's second largest mobile wallet". Computer World HK. 9 April 2018. Archived from the original on 6 October 2018. Retrieved 30 September 2018.
  7. ^ Bhattacharya, Ananya (9 May 2023). "WeChat is the world's biggest superapp, but it's not the only one". Archived from the original on 8 June 2023. Retrieved 8 June 2023.
  8. ^ Fischer, Matthias. Fintech Business Models: Applied Canvas Method and Analysis of Venture Capital Rounds, Berlin, Boston: De Gruyter, 2021, pp. 24-25. doi:10.1515/9783110704907-020