The popularity of mobile payments has been on the rise in China since the launch of Alipay and WeChat Pay, which jointly take 90% of China's mobile payment market share as the daily app of Chinese consumers. In 2016, Alipay and WeChat Pay enabled $2.9 trillion in Chinese digital payments, representing a 20-fold increase over the past four years, according to a report by the UN-based Better Than Cash Alliance released in April 2017.
Alternative Airlines accepts the Chinese payment method Alipay
China’s travellers are expected to take an estimated 700 million trips over the next five years. That means, if you take a one in a million trip from China, there are still 700 trips out there just like yours! Alternative Airlines understand the importance of easy travel and offer Alipay as a payment method to provide students, travellers and expatriates with the best service when buying flights.
What more can you tell me about Alipay?
Alipay is a leader in online payments and has over 400 million users worldwide as well as controlling of just under half of China’s online payment market in October 2016. It processes more than 80 million transactions per day. This is three times the amount handled by PayPal, and the equivalent to one-third of the USD 2.5 trillion in total global online payments in 2014.
Alipay, the online payments unit of Chinese internet company Alibaba, deal with UATP (Universal Air Travel Plan), a private network run by airlines like Air New Zealand, Delta, Aero Mexico, Qantas, and Japan Airlines, is designed to capture a slice of the China’s rapidly expanding travel sector, currently worth some 622 billion yuan ($102 billion).
Despite over half of worldwide online customers using credit cards to make purchases, more than 50% of E-Commerce sales are completed through alternative payment methods. Information cited in the report estimates that the combined share of different alternative payment methods in global E-Commerce sales will rise, leaving the share of bank cards at a decrease.
Alternative payment methods are particularly favoured over bank cards in emerging markets such as China. Here, E-Wallets like Alipay made up for more than half of online sales.