When making mobile payments, there are several systems that are known to most users on Android. Options like Google Pay or Samsung Pay are quite well known. While they are not the only alternatives available in this field. A name that probably sounds like some is Alipay. Another option in this field.
Therefore, Everything about Alipay is told below, this mobile payment system, which is important to keep in mind today. Since it is very likely that it will be a name that is heard more and more in the market of mobile payments worldwide.
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What is alipay? How does it work?
Alipay is a mobile payment service. As some may have deduced by name, it is a product that belongs to Alibaba. Since its launch, it has become the most used mobile payment platform in China. In fact, many see it as a kind of Chinese PayPal, because it is very easy to use, in addition to the protection it offers to users.
In this case, users open an account in Alipay, from their smartphone, using the app. Can be link from the same debit or credit cards, so that it will be possible to make payments with the phone in a simple way. This is something that has helped its popularity. In addition, it allows transfers to be carried out very quickly. In a few seconds payments can be made with the smartphone.
Another detail that has also contributed to its popularity is that these transactions are executed without commissions and without intermediaries. What makes it even simpler for users to make payments with it. That is why it enjoys enormous popularity in China. A popularity that the firm seeks to expand in other markets worldwide. Something they have been working on for a while.
Payments with Alipay
Alipay has also been erected as a very innovative option in the market when making payments. Users can use the app on their smartphone, both online shopping and physical stores in China. Although the firm seeks to go one step further when making payments in shops. Therefore, payments with facial recognition have already been introduced in stores in China.
First, users must link your face to your Alipay account. So this function is officially activated. As when using facial recognition on an Android smartphone, the same procedure in this regard. Then, in stores there are machines that execute such facial recognition. Therefore, this makes it possible to make payments without even using your smartphone in this process. You can also make payments on it using fingerprint, as in other mobile payment systems on Android.
In China it is possible to use Alipay in most shops. In many physical stores it is possible, since in China mobile payments are the most widespread method today. Also in online stores, especially on Aliexpress, owned by the app's business group, it is possible to use the account in these payments in a really simple way. In addition, they can be used when paying for public transport in many cities of the country. Therefore, only using the smartphone, it is already possible to make these payments.
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Alipay in the world
Although it is an app born in China, Alipay has been working on its international expansion for more than a year. Already last year it was announced that agreements had been closed with more than 100 banks in Europe. A series of agreements that represent an important step in the expansion of this payment method worldwide. Since last year its presence has increased, since They entered 6 countries in Europe for the first time.
Although the approach that Alipay has had so far is somewhat different. Since it has not been promoted as a payment app to use, such as Samsung Pay or Google Pay. But it has been sold as an option for Chinese tourists to make payments abroad. In fact, active accounts in Europe are from Chinese citizens who shop in Europe. Although it seems that for some time there have been some changes in this strategy.
In the case of Spain, Alipay has signed important agreements. Why they have partnered with a bank of great presence like BBVA, in a first step in changing your business approach so far. This is something that allows us to intuit the change in brand strategy, seeking to start having a presence in the market. They also have agreements in the case of Spain with El Corte Inglés. So Chinese tourists can pay for their purchases in these stores using the app.
In what state is Alipay's international advance?
It has been announced for months that Alipay is close to entering the European market officially. Although the reality is that until now there has been no real entry by the company. They have a presence in several countries in Europe, but are still aimed at facilitating Chinese tourists to shop on their vacations in Europe. It is still the main use that the app currently has in Europe.
On the one hand, it has many elements in its favor to have a good presence. It works with the main credit and debit cards in the market, such as VISA, MasterCard and many more. What makes it easy for consumers to link this card to their Alipay account and thus make payments at merchants. Although competition in this segment is already quite established, with apps like Google Pay or Samsung Pay, in addition to Apple Pay. In addition, many banks have their own payment systems, which in many cases are preferred by users.
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Therefore, it is possible that its entry into the European market will be complex in that regard. Rumors have been heard about this jump for months, but nothing concrete happens. Although a month ago they reached an agreement with Barclaycard in the United Kingdom, which could be a first step in its expansion. But Alipay is not going to find an easy way in Europe. Therefore, what will happen in the coming months remains a mystery.