Using online payment service for online shopping is become more attractive in nowadays. PayPal is one of the popular online payment service in world, which use it in western country commonly. However, PayPal cannot expand its development in Mainland China. It is also create a new competitor, Alipay, that affect the development of PayPal.
Since most of the Chinese are using the UnionPay, instead of Visa or MasterCard for online shopping. Thus, there is an alternative to using a credit card is Alipay. Alipay is a third-party online payment platform, which has been called the PayPal of the East. It is common of using the Alipay in Main China, Hong Kong as well as Macau. It can be linked to a bank account, as much as PayPal can be.
Alipay is mainly focused on the Mainland Chinese market. Take Hong Kong as an example, there are over thirty retail chains accept Alipay payments, it will increase the usage amount extensively. Besides, it improve its service to provide a more complete system for consumers and integrated into the daily life of consumers. While Alipay and PayPal are the leader of payment industry, PayPal is still focus on the core of its business of payment processing and Alipay has moved ahead and expanded from its initial core into other related areas. Therefore, Alipay can be a threat that affect the development of PayPal.
Although using Alipay is accessible, it needs the chinese address and the national Identification card. If we do not live in China, we can not create a account of Alipay.
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