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AliPay the chinese PayPal will get big with zero-free penetration strategy

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Sun, 03/06/2005 - 01:53 — Christoph C. Cemper

AliPay, the chinese-local hero of internet payments get's bigger… and it offers it's merchants and website owners a license free payment system…

Typical for the asia market – pure penetration… get big and then charge… I love it… The service is supported by four big Chinese banks, including Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and China Merchants Bank.

Interesting that they have a sort of escrow model and user trust rating model:

Quote:

To conduct a transaction using AliPay, a buyer first sends his payment to an AliPay account, where it is held in escrow. Once the buyer indicates that the product has been received, the money is transferred from AliPay to the seller. With Alibaba's full guarantee for each AliPay transaction, buyers and sellers may transact online with confidence. This, combined with Alibaba and Taobao's trust rating systems for members, provides buyers and sellers a comprehensive way to evaluate business partners, build relationships, and transact online.

Sources:

Alipay goes after PayPal

PR on Yahoo on AliPay

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