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July 11, 2017

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Stripe signs with Alipay and WeChat

SILICON Valley online payment start-up Stripe said it has partnered with Alipay and WeChat Pay to allow merchants to accept payments from most Chinese consumers.

The partnerships allow online merchants using Stripe to pay with Alipay and WeChat Pay on their websites.

Alipay said in an email statement yesterday the link-up with Stripe helps it connect consumers with overseas businesses in more than 25 countries and regions.

That includes retailers such as Target and vehicle hailing service Lyft.

Online shopping is booming in China but most consumers still have difficulty sorting out payment, except for Alipay or WeChat, which they are already familiar with.

Alipay and WeChat have also been seeking overseas expansion by connecting with as many as overseas merchants as possible.

And they have established multiple collaboration deals with third party payment service providers.

“We’re delighted to reach a partnership with Stripe to help global vendors tie up with Chinese consumers,” president of Alipay for North America Souheil Badran said in a statement.

One-time payments through Alipay will be available to international users, while WeChat Pay support will begin in private beta.

Stripe is also testing subscription-type transactions for Alipay.



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