The agreement allows enterprise retailers to accept online purchases made with Alipay. By enabling ecommerce with Alipay’s registered users, the alliance removes the barriers that prevent large retailers from offering their products to the Far East market.
According to iResearch, Alipay ranked first place in China’s online payment market, representing the largest share of 51% in Gross Merchandise Volume in Q1 2014.
Founded in 2010, Zooz works with 1,000 large retailers, including Groupon and Ikea, by connecting them with up to 35 acquirers globally to enable access to customers in more countries.Alipay offers payment and escrow services for transactions on Alibaba Group’s marketplaces as well as to third parties in China.
In recent news, Chinese online payment service provider Alipay has teamed up with Huawei, a global ICT solutions provider, to enable users of the Ascend Mate 7 handset to secure their mobile payments using a fingerprint sensor built into the phone.
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