Online payments firm Stripe has struck a deal with two of China’s biggest mobile payments providers, effectively opening its clients to a huge, new market.
Stripe will now allow the hundreds of millions of users on Alipay and WeChat to pay on its platform.
With this deal, retailers who use Stripe to process payments will now be able to welcome Chinese shoppers onboard — the majority of whom use the two Chinese platforms when they shop online. Far fewer use credit cards.
SEE ALSO: China’s answer to PayPal is coming to the rest of Asia
Alipay, the e-payment service owned by Alibaba’s Ant Financial, boasts over 520 million users — and WeChat Pay, owned by Chinese internet giant Tencent, boasts over 600 million users. Read more…
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