Alipay credit card payments

Before this announcement, payments allowed were up to 300 or 500 yuan only for each transaction. The payment for higher amounts would require multiple transactions by the cardholders. Now, payments for big purchases can be completed in just one transaction. Six participating banks are currently supporting this payment service, such as: Bank of Communications, China merchants Bank, Guangdong Development Bank, China Everbright Bank, and Bank of China.

Alipay said that about 3,000 vendors of Taobao, its sister company, have been approved to transact big-amount credit card payments. The approved vendors were selected based on Alipay?s strict standards . The vendors? trading payment records were also evaluated by Alipay?s risk control department. The service also avoided the high-risk items such as jewelry and virtual goods.

Like the usual credit card programs, online payments also have equivalent points that card holder can use to redeem some items specified by the credit card company.

Alipay added that they expect more banks, such as the Industrial and Commercial Bank of China and China Construction Bank to participate in the service.

Alipay customers can securely fund their payments through credit cards, or wire transfer and online transfer from their existing banks.

Source : Konaxis

0 comments

Add your comment

Commenting is allowed only for registered users.

Other articlesgo to homepage

Chinese digital philanthropist entrepreneurs

Chinese digital philanthropist entrepreneursComments Off

Discover the philanthropist entrepreneurs in China   Source: Harvard.edu   Chinese CEO’s are turning into real philanthropists. According to Harvard.edu, TOP 100 China’s greatest donors have contributed in 2015 for 0,03% of China’s GDP, donated more than 3,8 billion USD and most of them decided to invest in Education or Environment. Also, most of them

20 facts about the Internet in China

20 facts about the Internet in ChinaComments Off

 Key things to remember about Chinese Internet 1) 1st World Internet population  Chinese Internet users have exceeded their US counterparts in late February 2008 and since they are the world’s first internet users. With the biggest population of the world, it’s without surprise that China reaches this record. 2)  1st country in terms of Internet

Electronic devices market in China

Electronic devices market in ChinaComments Off

The market for traditional products of consumer electronics in China is maturing, more than in the whole world. With the rapid development of information communication technology, China has become the largest manufacturing centre in the world for electronics, including televisions, computers, telephones and DVD players. Here’s electronic devices market in China. Market development in China

TOP 10 CHINESE SMARTPHONE BRANDS

TOP 10 CHINESE SMARTPHONE BRANDSComments Off

Over the last years, the smartphone market has grown due to the increase of disposable income and the falling prices of smartphones. In China, the smart phone market share is dominated by a few companies, however, most of these brands are locals. Here we will have an overview of the main Chinese smartphone brands meeting

5 key players of the e-commerce market in China

5 key players of the e-commerce market in ChinaComments Off

E-commerce is about to reach 10% at the end of commerce market in China this year. It has easily become the largest online market place in the world since it China’s online B2C exceeded the American one in 2012. The online B2C is indeed the more important part of the market in China. Here are

read more

Contacts and information

Social networks

Most popular categories

Real Time Analytics