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Alipay "Quick Pay" Users break the 20 Mln barrier

Tuesday August 30 2011

Chinese online payment platform Alipay announced today that its Quick Pay online payment-by-credit-card service now has more than 20 mln users and accounts for 36% of all transactions made through Alipay, an increase of nearly 6 percentage points since early June.

According to Alipay vice president Fan Zhiming, Alipay's Quick Pay service has currently signed partnership agreements with 123 separate banks, 91 of which have already integrated the Quick Pay service with their own online banking services. This represents an increase of eight since early June in the number of online banks utilizing Alipay's Quick Pay service. Shanghai Pudong Development Bank now remains the only bank with nationwide operations yet to begin using Alipay's Quick Pay service.

Fan said that the company hopes to see an increase in the number of Quick Pay users from 30 mln to 40 mln before the end of this year, followed by reaching 100 mln users within the next two years.

Tagged as: third-party payment | Internet | users | Alipay | online payment | e-payment