Limonetik partners Alipay to enhance European payment options for Chinese consumers

Monday 16 February 2015 00:57 CET | News

Alipay, a Chinese online payment service provider, is partnering with Limonetik, a European ecommerce payment platform, to offer online European merchants access to Chinese consumers via online payments.

Limonetik provides a “one stop” shopping payment solution, an online enriched payment platform (PaaS), connecting Payment Methods to e-Merchants (directly or through their PSP). Acting as a MiddleWare, the Limonetik payment platform helps payment methods to accelerate their deployment on to ecommerce websites.

According to iResearch, Alipay ranked first place in China’s online payment market, representing the largest share of 49.2% in Gross Merchandise Volume in China’s third-party online payment sector in Q3 2014. Alipay offers payment for transactions on Alibaba Group’s marketplaces as well as to third parties in China.

The Chinese Ministry of Commerce announced that China’s ecommerce transactions reached CNY 13 trillion (USD 2.08 trillion) in 2014. China has now 642 million active internet users, representing 47% of the country’s population, as well as 565 million mobile internet users, or 41% of the population.

The Limonetik payment platform consists of an interface between all the Alternative Payment Method (APM) and the ‘Back-Office’ of the e-Merchant. Via Limonetik, Alipay can further deploy its payment method solution to European merchants and Chinese e-Merchants.

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Keywords: Limonetik, Alipay, European, payment options, Chinese consumers, ecommerce, cross-border
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce