China’s top online payment Alipay forays into U.S.

May 09, 2017, 8:15 AM EDT
(Source: David Feng/flickr)
(Source: David Feng/flickr)

Alipay, the Chinese digital payment giant, owned by e-commerce bigwig Alibaba, has struck a deal with credit card processing service First Data to expand its presence in the U.S. The venture, targeting primarily Chinese tourists visiting North America, pits Alipay directly against the likes of ApplePay, Android Pay and PayPal.

Alipay, which boasts of about 450 million customers worldwide, will now be available for use at nearly 4 million businesses in the U.S., notes the BBC.

Recently, Ant Financial, Alibaba's digital payments arm has inked a slew of deals and made investments outside China, where digital payments and banking are catching up, writes Tech Crunch.

TAGS: Alibaba