Alipay in alliance with US online payments firm

June 24, 2014

US online payments firm Stripe on Tuesday announced an alliance with Alipay aimed at making it easier for people in China to buy things from elsewhere in the world.

"We're building a for internet commerce; in order to enable China's 1.3 billion people to buy from Stripe businesses, we decided to add support for Alipay," Christian Anderson of Stripes said in a blog post.

Alipay was spun from Alibaba Group in 2011, but Alibaba chief Jack Ma retains a stake in the that handles the bulk of the transactions at the Chinese e-commerce colossus.

The move comes with Alibaba preparing a massive US share offering, a move that could help fuel expansion in the American market and elsewhere.

Stripe will roll out support for Alipay in a beta, or test, program during coming weeks, letting users pay for items at online checkouts with email addresses and six-digit text message codes.

Businesses in 14 countries use Stripe systems for accepting online payments from customers, but it has been little used in China where Alipay is the dominant player.

Founded by brothers John and Patrick Collison in 2010, Stripe made its public debut the following year with a goal of simplifying transactions for online purchases.

Explore further: Yahoo! shares drop as Alibaba service spins off

Related Stories

Yahoo! shares drop as Alibaba service spins off

May 12, 2011

Yahoo! stock sank on news that Alibaba has spun its online payment business out of reach of the US Internet pioneer, which owns a large stake in China's leading online search service.

Yahoo! shares sink on Alibaba tensions

May 13, 2011

Yahoo! shares extended their slide on Friday amid tensions with Alibaba Group, the Chinese e-commerce giant in which the California Internet company holds a large stake.

Alibaba head rejects Yahoo! protest over pay unit

May 15, 2011

The head of Chinese e-commerce giant Alibaba said Saturday the firm's move to transfer ownership of its online payment unit was "legal and 100 percent transparent", rejecting protests by US-based Yahoo!

China grants Alibaba payment system license

May 26, 2011

(AP) -- An online payment system founded by Chinese e-commerce giant Alibaba Group was granted a government license, the company said Thursday, following an ownership change that rattled investors in partner Yahoo Inc.

Alibaba expands beyond e-commerce

May 9, 2014

China's Alibaba Group, which is readying for a big U.S. initial public offering, is known as an e-commerce titan but it's been busily expanding into other rising industries. Here's a closer look at those businesses, which ...

Recommended for you

Power grid forecasting tool reduces costly errors

July 30, 2015

Accurately forecasting future electricity needs is tricky, with sudden weather changes and other variables impacting projections minute by minute. Errors can have grave repercussions, from blackouts to high market costs. ...

Microsoft describes hard-to-mimic authentication gesture

August 1, 2015

Photos. Messages. Bank account codes. And so much more—sit on a person's mobile device, and the question is, how to secure them without having to depend on lengthy password codes of letters and numbers. Vendors promoting ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.