As a result, DataCash merchants will be able to accept payments made by Alipay users. Customers can pay for goods and services via Alipay’s online payments platform and gain access to a series of services including payments confirmation, security features and e-wallet funding options including credit/debit cards and bank transfers.
According to the iResearch Consulting Group, the Chinese online market has been estimated at GBP 80 billion. China has over 193 million online shoppers compared to 170 million in the US, more than double the number in Japan and five times that of the UK. Another survey released by the Boston Consultancy Group has unveiled that by 2015, the size of Chinas e-commerce market is expected to rival that of the US, with e-commerce accounting for as much as 8 percent of the total Chinese retail market.
DataCash Group, part of MasterCard company, provides multi-channel global payment processing services and fraud prevention and risk management solutions to merchants and banks. The company enables customers to accept and process payments in over 177 currencies, from over 45 brands across e-commerce, m-commerce channels and cardholder present channels.
In June 2012, Alipay and Microsoft have signed a strategic letter of intent in Beijing to jointly develop and distribute services to upgrade internet security and privacy protection for Chinese users.
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