What is Alipay and how does it work?

Alipay claims it operates with more than 65 financial institutions including Visa and MasterCard to provide payment services for Taobao and Tmall as well as more than 460,000 online and local Chinese businesses. Alipay is used in smartphones with their Alipay Wallet app. QR code payment codes are used for local in-store payments.

What is the service fee for Alipay payment?

From March 26, 2019, the service fee will be charged for the payment of credit card through Alipay. Customers only pay the portion of the payment that exceeds 2,000 yuan at 0.1%.

What is Alipay’s tourpass?

In November 2019, Alipay introduced Tourpass, a service component that allows non-Chinese users to use its mobile payment feature by pre-loading Chinese Yuan equivalent foreign currency into the app. In 2020, Alipay used a QR code system to help in containing the COVID-19 outbreak.

What is Alipays market share in China?

It is the worlds number one mobile payment service organization and the second largest payment service organization in the world. According to the statistics of the fourth quarter of 2018, Alipay has a 55.32% share of the third-party payment market in mainland China, and it continues to grow.

How does Alipay work in China?

Alipay is the most popular e-Wallet service in Asia. In China, millions of transactions are processed using Alipay each day. Residents use its digital wallet on their smartphone to quickly and conveniently make payments in-store, online, and by money transfer. How does Alipay work?

How does Apple Alipay work?

As with Apple Wallet, Alipay users set up a digital wallet and can then add cards and money directly to their Alipay account. When they want to pay for something they just present their QR payment code to the cashier, who scans the code and then the payment is made.

What is Alipay e-Wallet app?

The Alipay e-wallet app allows users to save their debit or credit card details to the app and then use their mobile phone to make payments instead of cash or a bank card.

Is Alipay safe to use?

Alipay is a well established and secure service. Generally, mobile payments are even safer than paying with your credit or debit card. Instead of your actual card details, the merchant receives an encrypted version of your financial information. What technology does Alipay use to keep your data safe?

What is Alipay tour pass?

Alipay Tour Pass provides visitors to China a way to pay online without a Chinese bank account. Load enough funds to cover your trip, and you can use Alipay as if it were a prepaid card. You can top up with a minimum of 100 yuan and a maximum of 2000 yuan, though there is a limit to the number of times you can top up.⁶

How does Alipay differ from Bank of Shanghai tourpass?

How does this differ from the above? Quite simply, by being able to link your bank card to Alipay, there is no 2,000CNY cap. You are free to spend as you please. You’ll notice with Tourpass that Alipay essentially creates a Bank of Shanghai account (as shown in the screenshots above) meaning you have the 2,000CNY cap.

How to use Alipay for foreign tourists in China?

Finally, Alipay have begun their new service, Tour Pass which provides mobile payment method for foreign tourists who visiting China. You can put upto 2000 RMB on virtual prepaid card with foreign credit/debit card and the amount lasts 90 days. After 90 days, the left amount will be refunded.

What is the cap for the chai China Alipay tour pass?

- Rapid Travel Chai China’s Alipay Tour Pass Launches for International Visitors (It Actually Works!) Check out our Top Rewards Cards to boost your points earning and travel more! Update: the cap for the card has been increased to 5,000 RMB. Some users have been able to spend beyond cumulative 5,000 RMB.

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