Alipay Spends $79M to Accept Cash In China
Alibaba Group subsidiary Alipay will spend $79.4 million over the next three years to upgrade its ability to receive cash on delivery for couriers in China.
“During Q1 2012, Alipay will provide thousands of point-of-sale (POS) terminals to more than 60 regional courier companies nationwide,” The Paypers says, with 60,000 POS terminals being installed by 2015 according to the plan.
A report from India Infoline News Service claims more than 70 percent of B2C e-commerce transactions in China are paid at the time of delivery, and estimates that less than 20 percent of Chinese B2C retailers are capable of processing plastic payment.
Please send all press releases and story ideas to Ben Carsley at firstname.lastname@example.org.