Alipay takes on Apple and PayPal with US expansion
Alipay, one of China’s most popular mobile payment solutions, is now available to use across the United States. A deal between Alipay and payments processor First Data will allow customers to use the service at 4 million merchants, reports Bloomberg.
The move is aimed mostly at Chinese customers visiting the US who will no longer need to exchange cash for local currency or pay credit card fees for using it internationally. It also brings Alipay into the same competitive market as US-based giants like Apple Play, Android Pay, and PayPal.
In China, Alipay and WeChat dominate the mobile payment market, with a combined 90 percent market share. Alipay is now accepted in 70 countries compared to WeChat’s 15. On the flip side, Apple Pay is…