Alipay – the second after PayPal

[img_assist|nid=10353|title=|desc=|link=none|align=left|width=100|height=54]As per latest data available the most popular payment system in China Alipay reports 100 million registered users at the end of August. It is now the second largest payment platform in the world with PayPal holding the first position. The share of Alipay in the online payment processing market in China makes up 76%.

The unique circumstance with the company success is that the 100 million milestone was achieved within just 5 years. PayPal spent 10 years to get to the same index with the customer base dispersed around the world while Alipay has its users out of Chinese citizens.

The progress of the payment processor is ascribed to the fast growth in the number of online consumers and Internet subscribers in China. With 22% of the population using Internet China has the larges Internet subscribers base in the world.