Alipay (www.alipay.com), is the most popular China online payment gateway in China, it’s Chinese name is “支付宝”.
Alipay works like an escrow service, solving the issue of settlement risk in China. What sets Alipay apart from other online payment platforms is that it holds funds in escrow until the product is received, making it a popular and trusted option. It allows you to track your order and， payment is only released to the supplier after you confirm delivery.
Partnered with all the leading banks in China, including Bank of China, China Construction Bank, Agricultural Bank of China, and the Industrial and Commercial Bank of China, as well as visa and other financial institutions, since its launch in 2004, AliPay has become the most popular and extensively used China online payment tool for all areas of e-commerce in China and china online shopping , and is fast becoming the industry standard. Up to the 14th March, 2010, Alipay had more than 300 million users, up to the July, 2010, Alipay had daily transaction volume exceeding 1.4 billion, through more than 5.5 million daily transactions.
However, for those who are outside China, it is impossible to open an ALIPAY account .If they want to buy something from China online shop, such as taobao.com, China’s largest online retail ecosystem where users shop, socialize and work with 82 percent of the Chinese online consumer market and registered gross transaction volume, they need to ask the shop owner(from the mainland, China) whether they are willing to accept money that can only be used through Paypal, because it will cost a huge amount of money to with drawl cash from it. It’s not easy for foreigners to buy from taobao not only because of the language barrier but also the payment settlement.
For this reason, chinabuydropship.com comes out. There are many services provided, you could also find taobao buy guide there.
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