China gets the North America

China's leading independent third-party online payment platform Alipay announced a cooperation agreement with Philliou Selwanes Partners, a New York City based consulting and advisory firm. PSP will help Alipay to promote this Chinese payment service to North American merchants. In the end of 2007 Alipay had more than 56 million users in China. And that number is growing because of more than 80,000 new registered users each day. Alipay's average daily transaction volume is up to $23million (USD).

It is considered the largest online payment service provider in China with a market share of over 54%. Being one of the best in region Alipay plans to expand the service in North America. And according to Mr. Phillip J. Philliou, partner at PSP, that new agreement will open great new potential for North American merchants to add millions of dollars in new sales from an untapped marketplace. PSP still needs to select online merchants and merchant acquirers for integrating Alipay into new marketplace.