If you want to send money using the Internet, buy a product, pay for a service or even donate to a charity online, there are more than likely only 2 ways to do it. Via credit card or through Paypal!
Now China’s Alipay is planning to march across the globe to offer online shoppers a 3rd option!
While there are other ways to shop online, Google checkout for example, Paypal is still the leader and most accept method of online payment.
In China the story is a little differed. While Paypal has a large presence, Alipay ran by Alibaba the people behind the B2B marketing site and E-bay like Taobao online store, have the Chinese market sewn up and now they are looking to go global!
Alipay are currently looking to team up with international credit card companies and are in talks with a number of would-be suitors!
Could this be the end of Paypal’s online payment dominance? And will this force the notoriously expensive service to become more competitive? Let’s hope so!