Solution Portfolio - Page 146



Part 1
Part 2
Leading the world in mobile payments:
Alipay and WeChat Pay
Part 4
Part 3
Operation Model: As a credit guarantee platform, Alipay essentially operates as a credit intermediary.
Alipay works as a kind of escrow agent that keeps the payment for both buyers and sellers until the
buyers conrm the receipt of the item bought online. The sellers, buyers and the payments are
managed on a single platform making it a convenient model for all.
Prot Model: This payment model effectively solves the payment and credit bottlenecks in the current
development of e-commerce. As Alipay works as an escrow, there are deposits of enormous sums of
money in the accounts of Alipay. As payment for goods is normally settled in weeks, or even in months,
huge interest income is stacked up for Alipay. In addition, as a third-party payment platform, Alipay
charges service fees to customers according to the commission rate paid to banks. Alipay also earns
on-line advertising revenues and charges for value-added nancial services, all of which form the
source of revenue for Alipay.
Safety Model: Safety in electronic payments is a sensitive topic and Alipay knows it. Alipay uses mobile
phone dynamic passwords, digital certicates, treasure orders, payment shields, third-party
certicates, and even smile-technology with facial recognition for identity authentication.
Alipay cooperates with VISA and around 65 other
As already mentioned, Alipay is not just a Chinese
banks,
China
phenomenon but it aims to expand worldwide.
Construction Bank, the Agricultural Bank of China,
Alipay Global is the international version of Alipay,
and the Industrial and Commercial Bank of China.
which
Apart from being the primary payment method for
automatically converts them to the merchant’s
Taobao and Alibaba.com, it also serves over 500,000
currency of choice. It currently supports 12
external merchants, covering online retail, gaming,
currencies, with exchange rates decided by either
communications, air tickets, commercial services and
the Bank of China or China Construction Bank and
utility bill payments.
transaction fees currently around 2% to 3%.
including
the
Bank
of
China,
processes
Preparing your business to welcome Chinese shoppers.
A guide to understand and get started with Chinese payment methods.
payments
in
RMB
and
25

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