Alipay Signs Cooperation Deal with Startup Company to Handle Payment Transactions
Alipay a part of e-commerce giant Alibaba before becoming a different entity handles half of all online transactions in China along with Startup Stripe a company compared to Ebay’s Paypal created a deal that will allow Chinese buyers to pay their purchases on the U.S. service a rare agreement between the Alipay and western payment services. Stripe also created a deal that allows its customers to handle their purchases easily from the second biggest economy in the world.
Stripe also said that a few credit card company that they support are being used in China, which further pushed them in support the deal with Alipay to shorten the gap between Chinese consumers and business that handles payments. As of the moment several businesses can only accept online payments from a few countries that is why Stripes is currently focusing on making the company work well in the global business sector.
Now Alipay uses can use their email address and a six digit SMS code in purchasing items from companies which in turn uses Stripe to process payments instead of being bounced from one site to another. but handling payments is just one challenge as companies are finding other ways to sell their goods around the world. And getting the goods to consumers in places such as India, China and Brazil is also a complicated and time consuming process.