Checkout.com’s collaboration with Alipay expands its offering of online payment solutions within its unified platform.
New and existing Checkout.com merchants around the world will now be able to sell to hundreds of millions of additional customers in China.
With 300 million active users, Alipay reaches almost half of the lucrative and fast growing Chinese e-commerce market. Last year, there was a 150% increase year over year in cross-border online spending and Alipay estimates that the Chinese e-commerce market could be worth US $650 Billion by 2020.
In addition to providing international credit and debit card processing through its direct acquiring relationship with Visa Europe, MasterCard International, Union Pay International, American Express, Diners Club International and the Discover Network, Checkout.com is building partnerships with rapidly growing alternative payment methods around the globe in order to power the most comprehensive cross-border payment solution for the internet.
Checkout.com’s focus on alternative payments has led to the creation of a unique solution that allows merchants to seamlessly connect all the payments they need to their website via one single integration, regardless of the solution type (for example, eWallets, mobile payments, online banking or prepaid cards).
This unified and continuously expanding solution typically targets merchants processing with credit cards only who want to expand their reach around the globe by offering local payment options to ensure they never miss a sale.
Mathieu Altwegg, Checkout.com CEO, says: “We are very proud and excited about our partnership with Alipay given the transformative role they are playing in ecommerce today, not only in China, but also globally. It is also a formidable opportunity for our merchants to effectively reach millions of new Chinese customers.”