Is a third-party online payment solution, providing a way for millions of individuals and businesses to make and receive payments on the Internet. The Alipay model involves escrow payments, designed to reduce transaction risk for online consumers, enabling them to release funds to vendors only if they're happy with the goods they have purchased.
According to statistics provided by Alipay, as of September 2011, in excess of 600 million registered users were relying on Alipay generating approximately 11 million transactions per day. Alipay's market share of online payments exceeds 50% in China.
Alipay supports USD and CNY transactions.
- When placing the order, shoppers in China can select 支付宝 (Alipay) as a payment option.
- On the next page, customers can finalize the payment. They are taken to the Alipay gateway and will receive an email confirmation and more information regarding the products/services delivery.
- Once the payment is complete, the shoppers are taken back to the 2Checkout shopping cart Finish page.