Alibaba Makes A Deal With South Korean Lotte To Integrate Its Alipay Service.
Chinese e-commerce giant Alibaba has been under some heavy spotlight recently after managing to file for a US IPO that has been said to potentially raise a total of $20 billion. Decided to expand its services oversea has shown some positive signs for future investors, and it seems that the company is pushing their Aliplay payment service across boards of all region first.
Alibaba has managed to spread their Aliplay service towards Hong Kong and Taiwan during its past dealings, and as of recently its trying to seek a way to make the payment service to become available in South Korea. And it seems that they have manage to succeed as the company has made a deal with an online shopping mall Lotte.com with Aliplay to introduce a new payment option for its Chinese customers. This option has been available since the late April but the partnership has only been officially announced as of today.
Lotte.com is under the management of the South Korea conglomerate Lotte, which manages an array of duty-free shops and department stores. Its latest public figures have show that Lotte user’s are up to 14. 3 million members and gains nearly a million daily visitors, though those numbers may have become much higher as of recent. The recent press statement made by Aliplay has stated that Lotte has a total of 16 million users.
According the released statement, China has one of the largest numbers of user among all the region where Lotte.com contains members in, and “the partnership this time is expected to encourage even more Chinese consumers to shop on Lotte.com by enabling them to pay for purchases with Alipay’s convenient cross-border payment solution.”
According to the statement, China has the largest number of users among the 19 regions where there are Lotte.com members, and “the partnership this time is expected to encourage even more Chinese consumers to shop on Lotte.com by enabling them to pay for purchases with Alipay’s convenient cross-border payment solution.”
This recent news arrives just after the Japanese e-commerce titan Rakuten had also manage to create a partnership with Aliplay during the previous month, seeking to create an easier way for shoppers based in China to purchase goods from its global site. Alibaba has also unveiled that the popular British fashion e-commerce site ASOS will also be integrating Aliplay as a payment option, while Yahoo Japan has been said to being accepting Aliplay sometime in June.
From these recent movement, it seems that Alibaba wants to bring all sorts of available option from various regions to its Chinese shoppers by making it much simpler for them to pay through the use of their service that already being utilizing in china, instead of having to adapt to oversea payment methods.