With rapid technology development, mobile payment has emerged as the most popular payment method in the world, especially in China. Alipay is the most widely used payment in China. You will find people scan their QR code with the App on their smartphones to buy some food in the grocery store everywhere. Created by the e-commerce giant, Alibaba, Alipay was launched in 2004 in China. It is a third-party online payment service provider in China, which makes China the world leader in terms of how consumers engage with digital payment apps.
It is the most widely used payment method in China with over 100 million daily transactions and over 520 million active users. Chinese used to paying for anything they need, from breakfast to booking a vacation, with Alipay on their smart device. What it is? Generally speaking, it is an e-wallet that enables people to conduct transactions directly from their mobile device, enable shoppers to store funds to be used online.
How can I get an Alipay account? How does it work? Easy, we will dwell on these questions in this blog and elaborate the frequently asked questions.
For this one, a QR code will be generated automatically and displayed to the shopper, the shopper has to open Alipay on his phone and scan the QR code, and then the transaction details will be displayed on the screen, and enter the payment password if he confirms the payment. Finally, the shopper will be directed to a successful payment page and the payment is complete.
Yes, of course. Alipay support GBP, EUR, USD, etc. in addition to CNY. And CNY is the preferred currency. If you are traveling abroad where Alipay is available for the vendor, you do not have to exchange your CNY to the local currencies. It will save you a lot of trouble. When you checkout, the system will calculate your CNY expense automatically based on the exchange rate of the day.
Yes. Alipay does not support security brokers and dealers, gambling, multi-level marketing, and other illegal business.
Receiving QR code is a permanent one with one Alipay account, while the QR code for payment is a dynamic one that designed for the account security.
Yes, of course. You sign in your mobile App, go to “Me-Settings-General-Language” and choose your preferred language. It supports four languages-simplified Chinese, traditional Chinese (Taiwan), traditional Chinese (Hong Kong), and English.
In general, Alipay is safe if you protect your personal info carefully. Please follow below instructions when you use Alipay.
With an aim to offer a safe, easy-to-use, fast way for individuals and merchants to streamline their business, Alipay emphasize the security system and take different measures to shape a reassured environment for online payment like strict security controls that compatible with the mainstream operating systems on both desktop and mobiles, SMS verification service, digital certificate, payment shield, and security protection question, etc.
Yes. You are able to use Alipay anywhere as long as the local merchant supports Alipay method. It may be a little difficult now. Although it is attempted to wield its influence in the world, it seems little works. It is mainly targeting at Chinese visitors or Chinese students abroad. As a result, you may not have an exciting experience when you are out of China. You may get Alipay service available at some places in countries like Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Korea, Taiwan, Thailand, and United States.
Yes, there are other payment methods such as credit card payment, credit pay, uses your credentials. Among them, QR code is the most widely used method in China.
Yes, of course. Besides payment, Alipay also supports financial management, money transfer, and medical registration. Integrated with the mini-Apps in the system, the local service of Alipay enables you to call for take-away food, top up your phone, find your own insurance and housing fund in the city service in the App, and get a taxi to take you home via car-hailing, shop in Taobao and Tmall, book cinema tickets, train tickets and find your vacation hotel, get your delivery info about your packages, etc.
Yes, there are commission charges under some conditions when you use Alipay. It will charge you 3% of your turnover when you use VISA, MasterCard, and JCB with Alipay App to shop at Taobao and Tmall platform.
Besides, if you transfer money to your bank card or withdraw that exceeds the regulated amount of the platform, you will be charged. You will have a withdrawal quota of 20,000 CNY (around $3,000). You will be charged 0.1% for each withdrawal once you reach the quota. But money transfer from Yu’E Bao to your bank account remains free for individuals.
Provide the complete info of your updated bank account and send it from your registered Alipay account email address to [email protected] and [email protected]. In addition, provide IBAN/ABA/BSB/SORT CODE for following conditions: IBAN: Settle to EU bank accounts, ABA: Settle USD to US bank accounts, BSB: Settle AUD to AU bank accounts, SORT CODE: Settle GBP to UK bank accounts. If your bank account is opened in Mainland China, the account number must be started with OSA/NRA.
Generally, it will take one day for the system to verify your personal data and send you the result of your application. You can check your email.
With the rising presence on the global stage, Alipay offers cross-border online payment, and cross-border in-store payment as well as customs declaration. As a result, it makes payment an easy way for people’s daily life.
Getting here, everything about Alipay is clear for you. Be it a merchant or an individual consumer, Alipay will lead you to an easy life with its highly efficient service. If you are a merchant and deal business with Chinese people, Alipay will make your business very easy as it is the most popular payment method in China. It’s time to refresh your knowledge about mobile payment. Take out your phone, and choose takeaway food on Alipay. what an amazing life!