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Alipay: A replacement for physical bank

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New York City, New York – (StockNewsDesk) – 10/15/2014 — A swift and reliable payment processor is real need for everyone. There are a few companies that are providing a handful of solutions. Alipay is a third-party payment platform providing a leading solution to this problem. It has successfully performed the task for the convergence between the consumer and business.

Alipay plays the most important role in China’s online payment market. More than half of China’s population depends on it. The market share of Alipay is huge and probably the biggest as it counts about 300 million users.

Alipay is not new to the people of China. It was introduced in the year 2004 by Jack Ma’s Alibaba Group. In the last 10 years, it has grown significantly in the financial market of China. According to analysts, because of Alipay the sum value of online money transactions has increased to near 4 trillion. It is not just a number, but a calculation of huge success in this parameter. Depending on this base value, Alipay seems to have a bright future ahead. Not just that, however, it will be effective in the financial structure of China.

Alipay: A replacement for physical bank

Now if we look closely at the products of Alipay, we will see that one of the most important products that it features is Cross Border website payment. It will give you the freedom of money transactions in any corner of the world. The overseas payment procedure will help you in international product buying. This procedure will be done by the website. The very next product is similar which is Cross Border Mobile Payment. This product will make your money transaction more flexible. There are a few other important and useful products like Express Login and Auto Debit Service.

Alipay is operational with more than 60 to 65 financial organizations that include institutions like Visa and MasterCard. Alipay features a credible service which is called Escrow service. This service comes with a unique specialty. It gives the consumers a platform to verify whether they are happy with the product or not, before they transact money to the seller. The service is introduced to increase the consumer confidence in B2B and B2C purchases.


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