440px-Alipay_logo.svg.png

The establishment of Alipay

Date(s)
December 8, 2004

Alipay is a third-party payment company belonging to Alibaba Group. With the advantage of lowering the cost of payment chain and enabling enterprises to focus on only the payment of online services, it soon grew into the biggest third-party payment company in China. Over 15 years of development, it has thoroughly changed the consumptive way of Chinese people. With Alipay, people no longer need to bring bank notes with them, since all payments are now available online.

Sources
"Alipay." Wikipedia. November 17, 2019. https://en.wikipedia.org/wiki/Alipay.
Fatticcioni, Camilla. "How to Use Alipay in China for Foreigners – The Guide to Alibaba’s Platform." Saporedicina. March 2, 2018. https://www.saporedicina.com/english/alipay-alibaba-payment-platform/.
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