As a result of the deal, DataCash’s solution will enable retailers outside of China to process transactions made via Alipay’s online payment service. The acquirer agnostic solution is fully-integrated, removing the translation and integration costs associated with Chinese eCommerce integration.
With 193 million online shoppers in China – more than double the number in Japan and five times that of the UK – compared to 107 million in the US, the companies hope to take advantage of the country’s growing eCommerce market. eCommerce also accounts for as much as 8% of the total Chinese retail market and its size is expected to rival that of the US by 2015.
Whitepapers
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