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How to register Alipay as Foreigner in China – E-commerce platform

Why you should register Alipay in China? The answer is simple. Alipay, the popular mobile and online payment platform was established in 2004. It was created initially as the payment department of Taobao- the B2C arm of the Alibaba group- to ensure trust between the buyer and the seller. It later on expanded beyond the Taobao and the Tmall and Alibaba platforms. Today, Alipay is open to foreigners living in China. This article provides the benefits of registering into Alipay for foreigners and also the process of registering.

It is currently the most popular and preferred mobile-based payment platform in China. It has 50.42% of the market share in 2016 and is being followed by WeChat Pay which has 38.12% of the market share. Alipay is valued over $60 billion and as of 2017, it has a payment volume of $1.7 trillion. It is also popular outside China and is accepted in 120,000 stores in 26 countries. Alipay has also done acquisitions overseas and has bought 40% shares in Paytm- a popular mobile payment platform in India- valued at $680 million.

Why Register on Alipay

Mobile-based payments in China have been available to people with a bank account in the country. This meant that payment platforms like Alipay were accessible only to the Chinese nationals and not foreigners. However, with the advent of technology and liberalization of the economy, other similar platforms like WeChat Pay offered the option for the users to add their foreign credit cards and thus the services were opened to the foreigners. For using Alipay in China, foreigners need to provide the details of their passport as their relevant ID while registering on Alipay. Only credit cards can be added and debit cards are not allowed to be added. They also need to download the app in mainland China, Hong Kong, Taiwan, or Macau.

Registering on Alipay has many benefits. It offers particularly greater benefits to foreigners as they can perform different types of transactions in China without having to carry cash with them. Alipay is widely accepted from large to small establishments in China and provides considerable