Alipay Express Checkout Users Exceed 20 Mln

Sina Tech, 7/25/11

Chinese online payment platform Alipay announced today that its Express Checkout online payment-by-credit-card service now has more than 20 mln users and accounts for 36% of all transactions made through Alipay, an increase of nearly 6 percentage points since early June.

According to Alipay vice president Fan Zhiming, Alipay's Express Checkout service has currently signed partnership agreements with 123 separate banks, 91 of which have already integrated the Express Checkout service with their own online banking services. This represents an increase of eight since early June in the number of online banks utilizing Alipay's Express Checkout service. Shanghai Pudong Development Bank now remains the only bank with nationwide operations yet to begin using Alipay's Express Checkout service.

Fan said that the company hopes to see an increase in the number of Express Checkout users from 30 mln to 40 mln before the end of this year, followed by reaching 100 mln users within the next two years.

Keywords: third-party payment Internet users Alipay online payment Fan Zhiming e-payment Express Checkout

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