How Does Alipay Work?įor in-store transactions, Alipay users present their QR code on their phone for the merchant to scan, or the merchant has a QR code available at checkout for the Alipay user to scan with their phone. retailers-including Amazon, Walmart, and eBay combined-and has the sixth-highest global brand valuation. Although it may not be a household name in the United States, its online sales and e-commerce profits have now surpassed all U.S. Users connect their credit card or bank card to their Alipay wallet, allowing them to make purchases without handling cards or entering sensitive information into a website.Īlipay is owned by Alibaba Group, a Chinese multinational tech company that operates a number of internet, retail, and e-commerce businesses with global reach, including AliExpress, Alibaba, and Taobao. It can also be integrated into Shopify, WooCommerce, Magento, and other e-commerce platforms for online purchases. Like Apple Pay and Google Pay, Alipay is a digital wallet that allows contactless payments via QR code for in-store payments. 93% of Chinese tourists prefer using mobile payments, and 73% surveyed state that they spend more when businesses offer a mobile payment option.īut is Alipay safe? And how does Alipay for merchants work?Īlipay is a payment application that allows consumers to make online, in-person, and in-app payments. As it’s estimated that Chinese consumers spend $60 billion in the United States each year. Mobile payments with Alipay can provide your business with access to a lucrative market. This is especially true for Chinese consumers who rely on Alipay and WeChat Pay to make most of their purchases. It suggested that family members should do more to educate elderly people about new technology and cybersecurity to help them enjoy a better digital life.Offering mobile payment options, such as Alipay, is vital to attracting international customers. The study also said 50.3 percent of older users learned how to use WeChat from their children or grandchildren. In September last year, the number had surged to 50 million. Zuo suggested that a system for supervising online payments should be set up, and hotlines for help should be promoted.Ībout 7.68 million seniors were active WeChat users in September 2016, according to the Tencent Research Institute's data. "Citizens don't know where and how to ask for help when bad things happen." "It is also due to a lack of channels for seniors to seek help," said Zuo Xiaodong, vice-president of the China Information Security Research Institute. The report showed only 0.6 percent of those sampled chose to call the police for help. However, more than half of seniors are reluctant to seek help after being deceived. Police arrested 114 suspects and found the victims were mostly seniors with low incomes.Ī report in March by the Tencent Center for Internet and Society found that 67.3 percent of middle-aged and elderly people had experienced some form of internet fraud. The company, based in Changchun, had gained elderly people's trust and convinced them to buy drugs at twice the normal price. In April, police officers in Jilin province broke a telefraud case involving more than 500 million yuan ($73.2 million). Seniors have long been a key target of fraud in China and elsewhere. "With online payment, it has now become much easier for seniors to pay someone directly after they have established trust," he added. However, their growing use of online payments, such as WeChat Wallet and its main rival, Alipay, comes with a growing risk of fraud.Ĭriminal gangs target older people, particularly retirees, and hope to gain their trust in order to defraud them, Zhu said. Zhu Wei, deputy director of the Communication Law Research Center at China University of Political Science and Law, said the strong social bonds offered by WeChat have provided positive options for seniors. The figures are based on a survey of 956 families across 58 cities. With large numbers of older people using WeChat, experts warn that a growing risk of online payment fraud could follow, since seniors are more vulnerable and more easily influenced.Ī study released on July 25 by Tencent Research Institute and Shenzhen University said users age 55 and older spend an average of 1.37 hours per day on the popular social media app, each with an average of 104 WeChat friends. A man scans a QR code to pay for vegetables in Hangzhou, Zhejiang province.
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