Alipay is a Chinese online payment system launched in 2004 by Alibaba Group and its founder Jack Ma.

Shoppers use Alipay to buy products online. It boasts 350 million registered users (mostly Chinese) which is three times as many as PayPal users.

Alipay is a wallet for your digital life. This system helps you do everything you need to do financially such as making online purchases or buying plane tickets or even paying utility bills. Moreover, brick and mortar stores in China accept Alipay as a payment method.

With Alipay, you could leave the house with just your cell phone and no cash or cards, and you will surely survive.

Alipay uses a number of cutting-edge technologies, such as NFC (this technology allows you to use your phone as a bank card) as well as sound technologies that transfer user ID and payment information wirelessly. Alipay uses barcode scanning to authenticate users.

Alipay’s security is extremely advanced too: it has been worked on for the past 12 years. The system stores lots of customer data such as bank account information, cell phones, home address, and so on. These measures prevent fraud.

Alipay is an electronic cash-based system as well as a bank that doesn’t use credit cards, only debit cards, and bank accounts. It means that users can’t spend more than they have.

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