Shenzhen Evening News, 7/02/11
Chinese online payment platform Alipay yesterday announced it is entering the offline payment market with its new Barcode Payment mobile application feature. Users of Alipay's mobile application can display a barcode on their handset that merchants can then scan with a barcode reader to complete a transaction.
The new feature is available to users of iOS, Android, and most Nokia Symbian devices. Users can use barcode payment either with their Alipay account balance or with cards from more than 80 different partner banks.
Transactions of RMB 200 or more are secured by password, and users can close the account online or by calling Alipay customer service in the event their phone is lost or stolen.
Zhu Yinjia, general manager of Alipay's wireless division, said that Coca-Cola retailers will be among the first to accept Barcode Payment.
Editor's Note: According to a post on the official English news website of Alipay parent Alibaba Group, Alizila, merchants are not required to use a barcode scanner since they can also use an Alipay-equipped camera phone to photograph a customer's barcode. There is no charge for merchants to register for the service, and the first RMB 20,000 in monthly transactions will be completed free of charge. After that, Alipay will charge shops a 1% commission to complete each transaction.