The largest electronic payment service via smart phones in China now expands to the United States. Where Alibaba’s Alipay service has announced the signing of an agreement for acceptance into millions of stores in the United States.
Alipay has entered into an agreement with First Data to process payments to enable use of the platform at points of sale within more than 4 million stores in the United States.
Alipay has around 450 million users worldwide and China has the largest proportion of users and is active in countries visited by a large proportion of Chinese tourists who use them to buy.
The expansion of China’s payment service in the United States is one of the biggest markets to follow after covering several markets in East Asia such as Korea, Singapore, the Philippines, Indonesia and India.
Alibaba’s Alipay-based financial services firm is completing the 1.2 $ billion takeover of MoneyGram.
The two companies have already collaborated last year to implement Alipay support in a number of prestigious stores in California and New York, and today they are expanding into more stores in different states.
The service will compete with Apple’s highly successful service last year, doubling the number of users more than three times and increasing the volume of financial transactions by more than 500%. Apple Bay operates in 13 countries around the world and more than 2 million small companies accept payment through the Internet.