{"id":317587,"date":"2017-05-09T09:26:10","date_gmt":"2017-05-09T09:26:10","guid":{"rendered":"http:\/\/citifmonline.com\/?p=317587"},"modified":"2017-05-09T09:26:10","modified_gmt":"2017-05-09T09:26:10","slug":"chinas-alipay-takes-on-apple-in-us-expansion","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/05\/chinas-alipay-takes-on-apple-in-us-expansion\/","title":{"rendered":"China’s Alipay takes on Apple in US expansion"},"content":{"rendered":"
Alipay, the Chinese digital payment giant owned by ecommerce giant Alibaba, is expanding in the US.<\/p>\n
Customers will be able to use Alipay at about 4 million businesses after a deal was signed with credit card processing service First Data.<\/p>\n
The deal is chiefly aimed at Chinese tourists visiting North America.<\/p>\n
It follows a small trial in California and New York, and brings Alipay into direct competition with the likes of ApplePay, Android Pay and PayPal.<\/p>\n
Along with rival WeChat, Alipay dominates the Chinese mobile payments market, and both firms are looking to increase their presence abroad.<\/p>\n
But there are also signs of US firms in the same industry looking for opportunities in China.<\/p>\n
In February, Apple teamed up with China’s state-owned bankcard association, China Union Pay, allowing the lender’s cardholders to use ApplePay.<\/p>\n
Globally Alipay has about 450 million customers. As well as online payments and money transfers, users can also hail a taxi, book a hotel and buy movie tickets directly from the within the app.<\/p>\n
Owned by Jack Ma’s Ant Financial, it is Alibaba’s digital payments arm.<\/p>\n
Earlier this year Ant Financial bought US-based MoneyGram for $880m (\u00a3700m). MoneyGram has about 350,000 outlets in nearly 200 countries. That takeover is under review, and needs regulatory approval from the US Committee on Foreign Investment.<\/p>\n
–<\/p>\n
Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"
Alipay, the Chinese digital payment giant owned by ecommerce giant Alibaba, is expanding in the US. Customers will be able to use Alipay at about 4 million businesses after a deal was signed with credit card processing service First Data. The deal is chiefly aimed at Chinese tourists visiting North America. It follows a small […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[106],"tags":[6933,6934,6935],"yoast_head":"\n