Alternatives To PayPal In China By Crystal Liu by alicejenny


									Alternatives To PayPal
In China By Crystal Liu
7 December, 2011 | created using

Alternatives to PayPal                                                            accounts are accounts, so these accounts may
                                                                                  be used to send money internationally.

in China                                                                 accounts, for sending and receiving money to and
                                                                                  from other accounts.
                                                                             It is impossible to send money between accounts and
Posted by crystal                                                   accounts, so accounts are effectively
                                                                             unable to make international payments. For, the only
October 22, 2010                                                             supported currency is the renminbi.


                                                                             In late March 2010, new Japanese banking regulations forced
                                                                             PayPal Japan to suspend the ability of personal account holders
                                                                             registered in Japan from sending or receiving money between
                                                                             individuals and as a result are now subject to PayPal’s business
Currently, PayPal operates in 190 markets, and it manages more               fees on all transactions.[2][3]
than 232 million accounts, more than 100 million of them active.
PayPal allows customers to send, receive, and hold funds in 24
currencies worldwide.[1] PayPal operates locally in 21 countries.            No Comments
Residents in 194 markets[clarification needed] can use PayPal in their
local markets to send money online. We can find the different                Alternative in China
number 24 and 21. There is the pointcut of issues with PayPal.
                                                                             Posted by crystal
PayPal is not a bank because it does not engage in
fractional-reserve banking, so the law is not applicable to PayPal,          October 20, 2010
the account of the user in PayPal cannot get legal protection for
                                                                             People in china are who focus on the most is to ensure that the
their money. In spite of its international reach, PayPal has limited
                                                                             safety of money. However, PayPal also make a point of his money
functionalites for multi-country users, most notably the
                                                                             security, Chinese still trust their online payment owing to the
impossibility to have bank accounts in several countries, or to
                                                                             international payment system of PayPal collide with Chinese
have a shipping address in a different country than one’s bank
                                                                             traditional management money matters. Therefore, a lot of
account /credit card.
                                                                             Chinese third-party online payment emerging as the times
Therefore, with the rapid development and expansion of PayPal                require.
over the world, the local restriction also follows.

1 Comment

Local restrictions

Posted by crystal
                                                                             Launched in 2004, Alipay ( is a third-party
October 21, 2010                                                             online payment platform. According to analyst research report,
                                                                             Alipay has the biggest market share in China. The company
Paypal, as of yet, have not provided their services to many
                                                                             claims it had more than 550 million registered users as of the
countries that are known to have a high percentage of internet
                                                                             end of 2010. In 2011, it was the largest online payment system in
shoppers such as China and Japan
                                                                             the world by value of transactions. [2] (The Economist An internet
China                                                                        with Chinese characteristics)

In China PayPal offers two kinds of accounts:                                Alipay provides a payment service called escrow, in which
                                                                             consumers can verify whether they are happy with goods they accounts, for sending and receiving money                    have bought before releasing money to the seller.
     to/from other accounts. All non-Chinese
                                                                             In China, Alipay partners with more than 65 financial institutions

including Visa and MasterCard to provide payment solutions for            at merchants’ websites with Alipay accounts. Express login
Taobao as well as more than 500,000 Chinese businesses.                   simplifies shopping steps and enhances order rate.[6] If you want
Internationally, Alipay helps more than 300 merchants and                 more details, please check, here
sellers worldwide sell directly to consumers in China. It currently
supports transactions in 12 major foreign currencies. Alipay is an
affiliate of Alibaba Group.

The 2009 transfer of Alipay’s ownership from the Alibaba Group
to a private company controlled by Jack Ma was controversial,
with media reports in 2011 that Yahoo! and Softbank (Alibaba
Group’s controlling shareholders) were not informed of the sale
for nominal value. Chinese business publication Century Weekly
criticised the actions of Ma,[4] while Ma stated that Alibaba
Group’s board of directors were aware of the transaction. The             No Comments
ownership dispute was resolved by Alibaba, Yahoo! and Softbank
in July 2011.[5]                                                          Resources

Uncategorized                                                             Posted by crystal

No Comments                                                               October 18, 2010

How to do in Alipay                                                         1.
                                                                            2. Martyn Williams, PayPal to halt some remittance services in
Posted by crystal
                                                                               Japan, Compuserve, March 30, 2010 03:16 AM ET
October 19, 2010                                                            3. New regs force PayPal to stop Japanese personal payments,
How to use Alipay                                                              Finextra, March 30, 2010
                                                                            4. Caixin Online (2011). How Jack Ma’s Mistake Damaged
Totally, they have three products: Cross-border Website
                                                                               China’s Market. Retrieved 14 June 2011.
Payment, Cross-border Mobile Payment and Express Payment.
                                                                            5. Dealbook (2011). Yahoo and Alibaba Resolve Dispute Over
                                                                               Alipay. Retrieved 30 July 2011.


                                                                          No Comments

is a real-time payment solution for international payment offered
by Alipay.
                                                                          Posted by

                                                                          October 16, 2010

                                                                          Add your brief bio here with link(s) to your e-portfolio.


is a real-time mobile payment solution for international payment          No Comments
offered by Alipay.

(including Cardtong) is the most secure, convenient payment

When a buyer pays in RMB(Renminbi) for a purchase from an
international e-commerce wapsite, Alipay will withdraw the
payment from the buyer’s account in real-time, use the funds to
purchase foreign currency, and will then remit the sum to the
international merchant’s account in settlement.

Express login enables Alipay users to swiftly login onto
merchants’ websites. Massive Alipay users can log in and order


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