Shopify partners with Alipay
Canada’s Shopify has teamed up with Asia's leading digital wallet platform Alipay to better serve Shopify merchants in the U.S.
The move will allow Shopify merchants to seamlessly accept payments through Alipay from more than one billion annual active users in China, and there are plans for hundreds of millions more across Asia.
Shopify expects the partnership to help its merchants to more easily assist customers, especially during up-coming events such as the Lunar New Year holiday, coming in February and the 11.11 Global Festival, popularly known as Singles Day or Double 11.
According to Alibaba, this year’s event generated gross merchandise volume (GMV) of $74 billion over the course of the 11-day campaign.
"At Shopify, we believe in a world of borderless commerce and are focused on helping our merchants build thriving businesses—not just within their own markets, but on a truly international scale,” said Kaz Nejatian, VP, product, merchant services at Shopify.
“Reaching consumers across Asia is an enormous growth opportunity for our merchants, and Alipay has brought inclusive financial services to more than one billion people in China. Through today’s partnership, we’ll help our merchants provide the best possible shopping experiences for this new audience of cross-border consumers.”
Last month, Shopify beat Wall Street estimates for third-quarter earnings. The company has benefited from more brick-and-mortar retailers turning towards its e-commerce platform as online shopping surges due to the Covid-19 pandemic.
Most recently, the company also joined hands with TikTok to help its one million-plus merchants advertise their products more easily on the video-sharing app.
The new Alipay payment gateway is available to Shopify merchants in the U.S., and is expected to reach more markets in the future, including Hong Kong, India, South Korea, Indonesia, the Philippines, Malaysia, Thailand, Pakistan, and Bangladesh.
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