Launched in 2004, Alipay currently works with over 200 domestic financial institution partners. Over the years, Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Alipay’s in-store payment service covers over 40 countries and regions across the world, and tax reimbursement via Alipay is supported in 29 countries and regions. Alipay works with over 250 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 27 currencies.

Foundation year: 2004
Location: Hangzhou, Zhejiang, China
Number of employees: 2004
Founders: Alibaba Group
Target geographic market:


About Product/Service
Differentiating features of productQuick Pay QR Code Payment In-App Web-based Payment Website Payment Mobile Payment Transact from Chinese Buyers Supports 27 foreign currencies Advanced encryption technology Real-time risk monitoring system
ValuationUSD 100B
PricingAliPay all internal transactions are free. For external transactions, once a user passes a threshold of withdrawing more than US$2,897, a transaction fee of 0.1% kicks in. Merchants are also charged a fee of 0.55% on the flip side to every purchase.
The Base CurrencyChinese Yuan
Number of Currencies Supported14
Product cost-
PCI compliance
POS System Invoicing
Fraud prevention

Key people

Funding rounds

Total Funding Amount 4,500,000,000
Number of Funding Rounds 2


Type of customersSmall Business Large Enterprises Medium Business Individuals
Estimated revenue$100M to $500M
Names of lead investorsChina Investment Corporation, National Social Security Fund

Tech stack

Devices supportedWindows Linux Android iPhone/iPad Mac Web-based Windows Mobile
LanguagesEnglish Chinese


Founding Date Type Tags
ANNA Money

ANNA Money is the business current account for...

2017 Private Challenger banks, fintech

Cora, a Brazilian payments service for businesses

2019 Challenger banks, fintech

ElasBank is a digital bank made by women...

2020 Challenger banks, fintech

Jumio helps organizations meet regulatory...

2010 Private

15 years ago, we built the first ever peer-to-...

2004 Private Challenger banks, fintech


3.3 out of 5

Number of uploads: 5
Number of reviews: 61 743
Updated: October 22, 2020
Last Version:

3.1 out of 5

Number of uploads:
Number of reviews: 1,7K
Last Version:

2.1 out of 5

Number of uploads:
Number of reviews: 11
Last Version:

3.7 out of 5

Number of uploads:
Number of reviews: 35
Last Version:

Related News