AliPay has improved and expanded its platform. AliPay+ offers more opportunities in the Asian market. Below we tell you more about it, and what this means for you as a merchant. As of August 1, 2024, the current AliPay will no longer be usable.
AliPay has added a number of third-party brands, apps and networks to the AliPay+ payment system. Before, it was only possible to pay via the AliPay wallet and from the app. In AliPay+, third-party payment options have also been added to the payment system. These following payment options are available as of now:
KakaoPay (South Korea)
RabbitLine Pay (Japan, Taiwan, Thailand)
Gcash (Philippines)
TMN (Japan)
For all possible payment methods through AliPay+, check out the AliPay+ page.
The consumer chooses the AliPay+ payment option. After this choice, the appropriate payment options are displayed to the consumer. This is determined based on the category indicated at the sales location, the country of the company and the amount of the purchase. The consumer thus receives a customized payment screen.
Merchants will not be automatically migrated. If you are currently using AliPay in the checkout, you will have to switch the payment option yourself. This is because the cost of AliPay+ and the terms and conditions are different.
How to do this.
1. Log in to your sales location
2. Turn off AliPay
3. Activate AliPay+
The onboarding succeeds within 10 minutes on average, but can take up to two business days.
AliPay is operated by Ant Group, a Chinese company that also owns AliExpress. Originally, AliPay was designed for e-commerce payments on platforms such as TaoBao and Tmall. It offers comprehensive financial services such as loans, insurance and investments.
WeChat, part of Chinese company Tencent, is integrated into a popular social media and messaging app, making it ideal for everyday and social payments, such as transferring money to friends and paying in stores.
Both platforms offer an omnichannel flow, allowing payments via e-commerce as well as point-of-sale (POS). This can be done through a QR code or a simple redirect flow for e-commerce and payment links. AliPay has a strong position in e-commerce, while WeChat focuses on social and offline payments thanks to the wide user base of the WeChat app.
Read more about the WeChat payment method here.