Shopify have announced a new Alipay partnership which will help merchants unlock the power of cross-border commerce. The new payment gateway will allow Shopify merchants to seamlessly accept payments through Alipay from more than one billion annual active users in China alone — and, in the future, hundreds of millions more across Asia.
Although Shopify merchants have always had the option to use Alipay as a payment method through third-party providers they can now reduce friction for customers through the Alipay payment gateway. The Alipay partnership will enable merchants to take advantage of some of the world’s largest shopping seasons and holidays such as the upcoming Lunar New Year in February and, most notably, the 11.11 Global Festival, popularly known as Singles Day or Double 11.
Singles Day draws hundreds of millions of shoppers every year and this year the 11-day campaign generated gross merchandise volume (GMV) of $74 billion. U.S-based businesses earned more than $5.4 billion in sales from Chinese consumers, making the U.S. the top international market during the festival.
“At Shopify, we believe in a world of borderless commerce and are focused on helping our merchants build thriving businesses—not just within their own markets, but on a truly international scale. Reaching consumers across Asia is an enormous growth opportunity for our merchants, and Alipay has brought inclusive financial services to more than one billion people in China. Through today’s partnership, we’ll help our merchants provide the best possible shopping experiences for this new audience of cross-border consumers.”
– Kaz Nejatian, VP, Product, Merchant Services, Shopify
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