Established in 2004, Alipay has developed a mobile application is no longer just the payment system per se, but rather a one-stop portal for all payment solutions.
Some analysts expect, these services can grow larger than PayPal. The reason, Alipay offer more comprehensive services than PayPal are still focusing on the mere payment system.
Quoted from Tech in Asia, Alipay mobile application designed for a number of transaction needs. For example, users can transfer money to other Alipay users, or share the bill by using a QR code.
Additionally, this service can also be used to pay a number of bills the mobile phone, buy train tickets, including checking balances of savings accounts are connected.
Alipay has also partnered with a number of small businesses that allows users to payment at many sites, while increasing transaction in offline stores.
Not only that, the service was founded by Jack Ma has been working with Wal-Mart and Carrefour, enabling users to pay via Alipay while shopping at the supermarket.
During major events such as the Chinese New Year, Alipay users can also send Red Envelopes to friends or family who have joined as members.
In other words, the Alipay payment system is an integrated solution that is tailored to the needs of users and can be used daily.
The growth of service users is also fairly rapidly. In 2015, there were approximately 350 million registered users and more than 80 million transactions carried out every day.
A recent report noted, there are more than 450 million active users in China and the surrounding areas who utilize the service Alipay.
Meanwhile, the new Paypal has 192 million active users, with transactions jumped 24 percent to 1.5 billion. Even so, the end of last year, PayPal stocks were under pressure, down nearly 4 percent.