Stripe announces deal with two of China's biggest digital payment services

USD-Chinese-APMs-Checkout-Flow

Sites which use Stripe to accept payments can now allow Chinese customers to pay with WeChat Pay and Alipay using the service's Source API. Credit cards account for only a fraction of online spending, according to Stripe.

The mobile payment solution, WeChat Pay, has over 600 million active users, that equivalent to almost 40 percent market share of Chinese mobile payment market. The move enables merchants on its platform to receive money from hundreds of millions of Chinese consumers.

For merchants in Singapore, they first have to sign on with Stripe. The company charges a fee for every transaction processed on its platform. However, many global e-commerce players, particularly small, regional businesses, have little ability to tap into the market largely because they don't support payments via Alipay and WeChat Pay, which have become the preferred payment options by the country's smartphone-savvy population. Alipay is used by about half a billion Chinese shoppers.

Souheil Badran, President of Alipay for North America said: "In our aim to get to a global cashless society, Alipay has evolved from a digital wallet into a global lifestyle enabler for Chinese consumers and travellers far beyond Chinese borders".

Letters: We should welcome voter fraud review
Democrat Hillary Clinton won the popular vote in November by more than 2 million votes but lost the electoral college. Arkansas is one of the few states that will give the government some of the info it requested last week.

Tencent was founded in Shenzhen in 1998 and went public on the Main Board of the Hong Kong Stock Exchange in 2004.

China is an important tourism key source market for European countries, the average spending per Chinese tourist reaches Euro 3,000, the spending momentum is growing strong, especially on buying luxury products such as clothes, jewelry and watches, cosmetics and household goods with strong brand names.

Stripe also announced its partnerships with WeChat and Alipay. Its mobile wallet is already accepted by more than 100,000 retailers in 70 worldwide markets. Additionally, the firm has partnered with Alipay to support recurring payments for Stripe users, easing the experience for SaaS and subscriptions-based businesses on the platform.

Related News:

  • Hundreds at vigil for Miosotis Familia at Bronx precinct house

    Hundreds at vigil for Miosotis Familia at Bronx precinct house

    A bystander was hit in the stomach by a bullet during the standoff and is in stable condition, police said. Officer Familia's wake will be held on Monday and she will be laid to rest on Tuesday.
    UNESCO vote on Ibrahimi mosque highlight of dailies — Newspapers Review

    UNESCO vote on Ibrahimi mosque highlight of dailies — Newspapers Review

    The United Nations declared the Old City of Hebron a heritage site on Friday, sparking Israeli fury and Palestinian jubilation. It was an "affront to history" and "further discredits an already highly questionable United Nations agency", Haley added.
    Chinese Dissident Liu Xiaobo Can Travel for Treatment, Say Foreign Doctors

    Chinese Dissident Liu Xiaobo Can Travel for Treatment, Say Foreign Doctors

    Liu, 61, was granted medical parole and released from jail last month after he was diagnosed with late-stage liver cancer. China's foreign ministry did not immediately respond to a request for comment on whether Liu would be allowed to leave.
  • Wanda Group Inks $9.29B Sale Of Tourism Projects, Hotels

    Wanda Group Inks $9.29B Sale Of Tourism Projects, Hotels

    Last year, Wang announced plans to build at least 20 major cultural projects including theme parks across the Middle Kingdom. Four years later, it snapped up Hollywood studio Legendary Entertainment for $3.5 billion.

    USA appoints ex-NATO envoy to handle Ukraine crisis

    Volker will accompany Tillerson on his upcoming trip to Ukraine on Sunday, the State Department said. Secretary of State Rex Tillerson is in Turkey today after a stop in Ukraine Sunday morning.
    Govt Launches App to Verify Tax Rate under GST

    Govt Launches App to Verify Tax Rate under GST

    GST Mobile application has been propelled to give the precise data about the expense rates under GSt (Goods and Services Tax). The app will help consumers to find accurate prices of each good they buy in any store in the country.
  • A New Google Doodle Celebrates the Life of Swedish Agronomist Eva Ekeblad

    A New Google Doodle Celebrates the Life of Swedish Agronomist Eva Ekeblad

    Eva Ekeblad , a countess and agronomist , extracted starch from potatoes and, through the process of distillation, created vodka. Here are some quick facts about Ekeblad, who became the first woman elected to the Royal Swedish Academy of Sciences in 1748.

    United States opens Gold Cup play with a draw

    Panama almost tied the game five minutes before Camargo's equalizer. "We have a bunch of good teams here". However, Ludovic Baal and Sloan Privat are the only members of French Guiana's team playing in Ligue 1.
    U.S.  plans to test THAAD missile defenses

    U.S. plans to test THAAD missile defenses

    The test was planned months before the July 4 launch that has increased concerns from the world towards Pyongyang. The ground based system is created to shoot down short, medium and intermediate-range ballistic missiles.
  • Turkey Detains 42 Academics Allegedly Linked To US-Based Cleric

    Turkey Detains 42 Academics Allegedly Linked To US-Based Cleric

    He said that the people of Turkey were living under a dictatorship, however, "we will be breaking down the walls of fear". The state of emergency led to the arrest of some 50,000 people and the dismissal of 100,000 civil servants.
    Commuter complaints few as Penn Station repairs begin

    Commuter complaints few as Penn Station repairs begin

    New York Governor Andrew Cuomo warned as early as May that the fix work would spell a " summer of hell for commuters". Road construction will be suspended near New York City to ease traffic congestion during Penn Station repairs, Gov.
    Tesla Gets Good News on Model 3, Bad News From Hong Kong

    Tesla Gets Good News on Model 3, Bad News From Hong Kong

    Expectations run even higher than the steep climb the Model 3 - also captured here in a rogue YouTube video - faces, it seems. So if you ever have dreamed of a self driving vehicle but your budget is a bit tight, you might be able to finally get one.


Most liked

Swimmer bitten by shark at Haulover Beach, reports say
The man then tries again to grab the the small tiger shark, but the shark had other plans and viciously bites the man on his hand. A Sunny Isles lifeguard drives a personal watercraft near a shark in the waters of Haulover Beach on Sunday, July 9, 2017.

WWE Rumors: SummerSlam Universal title match set
The road to SummerSlam 2017 draws near so the winners of this event are likely going to headline the big PPV in August. This is one of the biggest wrestling events of the year, and certainly the biggest WWE show to follow WrestleMania 33.

Timberwolves NBA Summer League Preview
Sacramento has a wealth of first-round picks on its Summer League roster, none more fun to watch than rookie De'Aaron Fox. Wilson, Reggie Upshaw Jr. and Thon Maker in the front court, with Gary Payton II and Rashad Vaughn in the back court.