Millions of American Merchants to Accept Alipay After Ant Financial, First Data Sign Deal
Yicai Global
/SOURCE : Yicai
Millions of American Merchants to Accept Alipay After Ant Financial, First Data Sign Deal

(Yicai Global) May 9 -- Alibaba Group Holding Ltd. [NYSE: BABA] affiliate Ant Financial Services Group said this week that its Alipay platform has signed an agreement with US payment processor First Data Corp. [NYSE:FDC], enabling Alipay users to make purchases from 4 million American merchants, Sina Technology reported.

The collaboration will make Alipay's acceptance by US vendors commensurate with Apple Pay's, the report said. Apple's mobile payment service is available at 4.5 million US locations, Apple Inc. [NASDAQ:AAPL] Chief Executive Tim Cook said last week.

"It will make Alipay services available across the US," said Souheil Badran, president of Alipay North America. "In the US, Alipay prefers working with a sizeable ecosystem to starting a business independently."

Alipay and WeChat Pay account for more than 90 percent of China's mobile payment market.

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Keywords: Baba , FDC , E-COMMERCE , E-Payments , Fintech