China The Biggest: Online Payments System

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It seems China will be the biggest in everything eventually, so we expect this series to continue for some time but, for now, we just want to note that (to the surprise of many who have never heard of it) that Alibaba’s Alipay, has overtaken PayPal as the biggest online payments system in the world. According to the company (via Technology News China):

“Alipay has more than 500 million registered users, processes seven million transactions every day and has a daily transaction volume of 2 billion yuan ($302 million)…The figures have surpassed PayPal in terms of the number of registered users and the transaction volume”.

See more on Alibaba on our recent post: Busy Alibaba: Alizila, Yahoo, eBay & Some Lessons.

On a related point, your blogger’s builder is now an Alibaba addict – he had never heard of it until a week ago, and is now exploring building supplies direct from China. He will not be the last to take note of a Chinese company expanding globally, and Alibaba will not be the last Chinese company to shake up the status quo.

There is no telling what the next “biggest” will be, but it looks like we may have to wait until 2025 for the hotel market edition…

Alipay overtakes PayPal. World's biggest third-party online payment platform
Twitter Sources:

China the biggest… RT @InfoseekChina: Alipay snatches online payment crown from PayPal China the biggest… RT @RenMedia:

Chinese hotel market to become number one by 2025 via @TravelDailynews

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