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What is Alipay's cross-border payment service?
It means users can directly purchase commodities denominated in foreign currency on cross-border merchants' websites.
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What are the benefits brought to overseas merchants by Alipay's international business?
At present, owing to its over 80 million users , its daily trading volume of up to£¤350 million as well as number of deals standing at approximately 1.50 million per day, this service can bring an uninterrupted stream of business opportunities for cross-border online merchants. It will attract even more online consumer groups from the mainland, enhancing economic and trade exchanges with other countries around the world, resulting in win-win development.
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Is there anything forbidden from being sold by overseas merchants?
Merchants shall not provide any goods and services prohibited by laws and regulations of China, including gambling and lottery, pornographic services, prohibited drugs, drugs, porno periodical, arms and ammunition and so on which are all forbidden by China's law. Further, restricted items and services shall not be provided until they get the authorization from the relevant laws and regulations of China, or until they are in accordance with specified qualifications. For more details, please refer to Rules
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What is the mode adopted? When will the seller receive the payment?
Alipay's international business adopts the direct payment model. Once the buyer has paid then this sum of money will, if reaching 5,000 USD or 40,000 HKD, transfer immediately to the settling bank , then to your clearing bank.
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Which currencies are supported by Alipay's international business?
12 Major Currencies Supported: GBP, HKD, USD, CHF, SGD, Skr, Nkr, Dkr, JPY, CAD, AUD and Euros.
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How to define the exchange rate during international businesses?
It refers to the real time exchange rate at some point of time on the trading day provided by a clearing bank (at present the China Construction Bank or the Bank of China), according to which the amount of foreign currency will be converted into the amount of the RMB.
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How to handle trading disputes?
Trading disputes need to be solved by consulting the two sides. If there is something wrong with the goods purchased that may require part or total refund, the merchant, after a buyer's and seller's consultation, applies to Alipay within 90 days of the date on which the trade was made, so as to refund the buyer according to the original exchange rate. As such, Alipay will be responsible for exchange rate gains or losses.
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