Payment mode for cross-border service

      In August 2007, Alipay was the first third-party online payment platform to offer cross-border online payment business. A payment solution involving "collection of RMB and settlement with international merchants in foreign currencies" enables China's largest and most active online shopper group to use RMB to buy commodities priced in foreign currencies on overseas merchant websites that cooperate with Alipay; and allows online merchants throughout the world, through cooperation with Alipay, to overcome the bottleneck of cross-border payment, so as to rapidly tap commercial opportunities in China's huge consumer market.

      Alipay offers a real-time payment mode for international payment that does not include third-party guarantee service. When a buyer has paid RMB for a purchase from an interantional website, Alipay will withdraw the payment from the buyer's account in real-time, use it to buy foreign currency, and remits the sum to the account of the international merchant in settlement.

Benefits for International Merchants

    * Improve business performance: open a new marketing channel and an increase in brand awareness within China.
    * Direct access to China's large consumer community with more than 470 million Chinese consumers (the core online shopper group in China).
    * Small initial investment: requiring only connection of Alipay's API to a website to realize an easy entry into the Chinese market.

Currencies Supported

Twelve foreign currencies including GBP, HKD, USD, CHF, SGD, SEK, NOK, DKK, JPY, CAD, AUD, EUR

Source from Alipay

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