In recent years as it becomes a trend for residents in mainland China to travel beyond boundaries, the average spending of Chinese outbound tourists has been ranked first in the world. The latest statistics of Tax Free World Organization (TFWA) and AC Nielson suggests that in 2006 China beat all the other countries in the number of Chinese outbound travelers, say 34 million and in total overseas consumption up to 2.432 billion; the average amount of 1081 Euros Chinese tourists spent on shopping while traveling abroad topped the world.
Meanwhile, with the development of online shopping, overseas online shopping demand of Chinese domestic netizens has expanding extensively. Data from Taobao(www.taobao.com),China’s largest online shopping website, shows that by December 2006,comparing to August 2006, monthly turnover of online transaction had risen fivefold within only 4 months, from 4.1 million to 24.3 million; transaction volume mounted nearly triple, from 22 thousand to 85 thousand; and the per-capita unite price soared 150%.
According to Survey, China’s overall market scale of individual online shopping will see a breakthrough of 100 billion in 2008 while it can reach as high as 280 billion in 2010, with a CAGR over 60%. China now is showing its powerful purchase strength and great potentiality to the whole world with a role as a marketplace of significant importance for merchants worldwide.
Alipay Overseas Payment Service refers to the overseas third-party payment service initiated collaborately by Alipay, China Construction Bank and Bank of China in August 2007.
Alipay applys real-time payment solution that after receiving payment in RMB, it purchases foreign currencies immediately for users to make settlement with overseas merchants. Thus it enables over 69 million Alipay users to pay RMB directly for goods priced in foreign currencies on overseas commercial websites that support Alipay. On the other hand, online overseas merchants from all over the world are able to do direct online transactions with consumers in Mainland China.
With a large population of active online shopping users, Alipay acts not only as a simple and convenient online payment tool for overseas online merchants who want to expand their overseas business, but also as a golden key helping overseas merchants get quick access to China’s consumer market with low cost.
High conversion rate:
based on simple, secure and speedy purchase and paying system (by logging on with Alipay ID and password only), it can reduce buyers’ loss during shopping and increase conversion rate.
Huge new market:
with 65 million users, Alipay is China’s largest group of users who are active in online shopping.
Alipay group’s resource advantage:
Alibaba.com: it is renowned in the world as China’s leading B2B platform. As the first electronic business portal with nearly 21 million online merchants in the world, it provides online business service for 16 million enterprises and merchants from 220 countries and areas with daily volume of 13.2 million pieces business supply and demand information to all the world.
Taobao.com: it is China’s largest individual online shopping website.
China Yahoo!:powerful portal and searching engine
Alisoft: it is dedicated to developing the most powerful and professional softwares for e-business.
Alimama: it ranks number one online commercial advertising transaction platform in China adopting world’s top innovative mode.
12 Major Currencies Supported: GBP, HKD, USD, CHF, SGD, Skr, Nkr, Dkr, JPY, CAD, AUD and Euros.
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