Alipay QR Code Payments to the U.S./Canadaa

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Alipay QR Code Payments to the U.S./Canadaa

Alipay, the largest processor of online and mobile payments in China, is building brick and mortar merchant acceptance networks for its mobile wallet product in the U.S. and Canada to serve visiting Chinese consumers. The company says that more than three million Chinese travelers will be in the U.S. and Canada in 2017. Alipay is owned by Ant Financial Services Group, which is an affiliate of Alibaba, China’s largest ecommerce marketplace operator. Unlike all top acquirers of payments from merchants, Alipay does not own the payment processing contracts with merchants it serves. It operate...

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Nilson Report

1103

February 2017

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