Alipay
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.
Native name | 支付宝 |
|---|---|
Romanized name | Zhīfùbǎo |
| Industry | Financial services Payment processor |
| Founded | February 2004 in Hangzhou, Zhejiang, China |
| Founder | Jack Ma |
| Headquarters | Pudong, , China |
Area served | Worldwide |
| Products | Electronic payment processing Banking Mobile payment |
| Parent | Ant Financial |
| Website | www |
| Alipay | |||||||
|---|---|---|---|---|---|---|---|
| Traditional Chinese | 支付寶 | ||||||
| Simplified Chinese | 支付宝 | ||||||
| |||||||
Alipay overtook PayPal as the world's largest mobile (digital) payment platform in 2013. As of June 2020, Alipay serves over 1.3 billion users and 80 million merchants. 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.
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.