Alipay (支付宝) was initiated to solve the security issues of online transactions for stores on Taobao. The buyer will officially pay to the seller through the Alipay system, Alipay notices information about the goods delivers, the buyer receives the goods confirmation instructions of Alipay payment, the buyer will complete the network transaction. If there is a problem about the bought goods Alipay can be an intermediate in solving issues with the seller.
You see, it is pretty much the same as “our” Paypal.
Lucy Peng (CEO of Alipay): Building Consumers’ Trust in Online Shopping in China
Alipay is a payment platform used by individuals and businesses for making and receiving payments in a safer, easy-to-use, swift way. Alipay’s users are primarily buyers and sellers engaging in e-commerce transactions. During the year 2010, it was noted that this platform had facilitated over 8.5 million transactions on a daily basis and had over 550 million registered users.
Alipay (alipay), confidence-building, to simplify, driven by technological innovation to improve the credit system concept, won the hearts. In less than six years time, users of e-commerce in various fields created a wealth of value, the growth of one of the world’s leading third party payment companies. As of December 2010, registered users exceeded 550 million people, the daily number of transactions reached 8.5 million and the daily turnover over 2.5 billion RMB.
You can also track delivery of your order at any stage using a unique tracking number for one of the following leading shipping companies: DHL, UPS, EMS, TNT, FedEx and SF Express. Alipay has arrangements with over 60 Chinese banks, Visa and Mastercard. See the full list.