Stripe, a US-based payments service provider, will allow merchants to sign up on its platform to integrate the ability for Chinese users to make payments with Alipay and WeChat Pay on their websites. Following the integration of these two popular Chinese payments methods, merchants will be able to tap into the growing ecommerce Chinese market.
The new global partnership builds on Stripe’s previous experience with Alipay, as the fintech company had previously enabled only US-based merchants to accept the Chinese payment service.
Alipay is the payment service of Ant Financial, the financial affiliate of Chinese ecommerce company Alibaba Group Holdings and has over 520 million users. WeChat Pay has more than 600 million users and is the payment app of entertainment and social network firm Tencent Holdings.
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