News

Alipay, Paytm increase adoption of e-wallets by small store owners

Friday 3 June 2016 10:04 CET | News

Alipay, a payment service provider, and Paytm, an ecommerce company, aim to increase adoption of digital wallets by small store owners in India and China in 2016.

Alipay is offering Paytm its technological capabilities and risk management systems, economictimes.indiatimes.com reports.

About 10% of Paytm transactions come from offline merchants, which the company expects to increase to 50% by the end of 2016. In China too Alipay gets about 10% transactions from offline merchants.

In China about 30% of people use cash, whereas in India that number is close to 95% Paytms offline merchant network.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Alipay, Paytm, eWallet, mobile payments, digital wallets, India, China, merchants, store, PSP
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce