Till today Alipay has around more than 1 billion users focusing on China, HongKong, Singapore, and Malaysia markets. Then just like MoMo in Vietnam, Alipay tries to connect with more and more life’s services for instance: mobile cards, travel agencies/aggregator apps, insurance, school/electric/ hydroponic water bills, etc., and Senior Heads of Banking Industries in and outside of China to bring its trading system to users around the world. The most difference between Alipay and MoMo is that MoMo doesn’t have its e-commerce trading floor or isn’t a child company in any of this field companies, while Alipay is a subsidiary of Alibaba Group (the company owns Alibaba e-commerce exchange).īecause of this, users can connect their credit or debit cards with their Alipay e-wallet accounts and use them for paying firstly for the products/services online through the Alibaba e-commerce trading floor. In Vietnam, we have the same business modal as Alipay – MoMo, which has become the first choice of e-wallet in the Vietnam market. 5 best e-wallets in the Vietnam fintech market How Alipay works?
And with over a billion users, offering this payment method is a natural choice for those who want to make international payments work. It is also a super app, meaning that it also has countless other features that allow users to hail a taxi, get a credit card and even buy insurance. What are Alipay and WeChat Pay? What is Alipay?Īlipay is a payment app and e-wallet, allows users to send and receive money easily without using cash. In this post, FinFan will share with you the definitions of Alipay and WeChat Pay, how they work, and the difference between them. Alipay and WeChat Pay are the 2 biggest mobile payments in China.
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