Alipay, based in China, is a digital payment portal that provides online, offline, and bill payment services. Users with active cards from any partnered Chinese bank account can log in to Alipay and extract the benefits. Launched in 2004 and developed by Ant Group, it is one of the renowned Chinese payment platforms and has partnered with all the major financial institutions in China.
The app is gradually dominating a massive part of Chinese markets and has increased in popularity in Hong Kong, Singapore, Malaysia, and other parts of the world. The app is available in 70 countries, including Sweden, the Netherlands, Finland, the United States, and Germany.
To use its services, you can download the app on your devices and link it with your cards to get started. It stores the user’s debit or credit card details and allows recurring online or in-store payments, saving time for entering the transaction’s credentials. The application’s services are available for all users who opt for Alipay-partnered merchant services. Languages supported by the application are Chinese and English. Presentment currencies accepted at Alipay include CAD, NZD, JPY, CNY, EUR, GBP, AUD, HDK, SGD and USD (further depending on the business locations). Users can use the digital wallet to pay for a credit card, internet, electricity, water, gas or tuition fee payments, and also for booking flight tickets.
The platform offers free monthly transfers upto RMB500; for transactions over RMB500, it charges 1% of the transfer value. To fund an Alipay account, users need to have an account with a supported Chinese bank, enable the debit card or e-banking function and fund the account. Always verify the user’s ID and check the QR code to avoid fraud.
Benefits of Using Alipay –
- Alipay mobile application app provides advanced encryption, which ensures data security for all users and transactions.
- The portal’s real-time live transaction monitoring feature allows users to detect risks at early stages, thereby promoting security for data and transactions.
- Risk management services from Alipay limits money laundering chances.
- The application is a reliable option for cashless transactions, eliminating the risk of losing money.
- Streamlining the payment process allows customers to scan the QR code with the merchant and facilitates instant payment options.
- Alipay wallet funds can be transferred within seconds to the registered users. However, fund transfers to the bank account may take 1-3 days.
- Alipay also offers a refund of payment option upto 90 days of original payment.
How to Use Alipay?
- Download the Alipay mobile app from the Google Play Store or App Store.
- Register with the active mobile number. For confirmation, enter the code sent to the entered mobile number.
- The next step is the authentication step, where users must provide their details like name, photo, ID number and other information.
- Once done, the next step is to enter bank card details and get started.
Users can also register for Alipay from its official website.
For bill payments, either scan the QR code or opt for the Alipay payment mode option during the payments.