Alibaba's AliPay Hits Big With Web Shopping Event

Alibaba hit big on 11.11 — also known as Singles' Day — with a record $9.3 billion in gross sales and now its top online payment system hit a "tidal wave" on its 12.12 online shopping event.

Alibaba's Alipay reported that the event on its Taobao Marketplace eCommerce site sold a variety of services online in little time, which included 10,000 discount vouchers for card washer in an hour; 1,400 online-education courses in 15 minutes and a reported 4.8 million people that ordered food through the online marketplace during the all-day online discount shopping event.

International Business Times reported: "Some supermarkets in Hangzhou, the capital of Zhejiang province, delayed closing times by an hour, until 11 p.m., to clear out long lines of shoppers waiting to check out during the 12.12 sale,  Alipay said."

"More than 20,000 physical stores participated in the Dec. 12 event on Alibaba's Taobao Marketplace e-commerce site through promotions using Alipay Wallet, the mobile app from Alipay."

AliPay has quickly become the largest mobile payments platform in the world. Alipay also recently announced that the latest version of its wallet will support Apple's Touch ID so its wallet app users can tap into their Alipay accounts to make some purchases at participating Chinese stores. Alibaba's successful year, including its $25 billion IPO, has also reflected in Alipay's growth. International Business Times also reported that "the share of mobile transactions processed on Alipay jumped to 54 percent of all transactions in the first 10 months of this year, up from 22 percent for all of 2013."




The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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