Stripe, a US-based startup, has teamed up with digital payment providers Alipay and WeChat Pay to allow millions of Chinese travellers to use the digital wallets for making payments in more than 25 countries across the globe.
Serving over 520 million users, Alipay is the flagship payment service of Ant Financial, the financial affiliate of Chinese ecommerce company Alibaba Group.
Chinese internet giant Tencent-owned WeChat Pay serves more than 600 million users.
Starting 10 July, the partnerships will allow online merchants using Stripe to accept payments from Chinese users through Alipay and WeChat Pay on their websites.
The Silicon Valley startup believes that the integration of Alipay and WeChat will help boost its revenues by allowing clients to tap China’s vast consumer market.
Stripe said that both Alipay and WeChat Pay can easily be implemented with Sources, an unified API of Stripe, which allows accepting any payment method with a single integration.
Alipay and WeChat Pay collaboration with Stripe is not their first expansion in global market. Earlier, both mobile payment services, which make up 92% of the market in China, expanded to the US through collaborations with local companies.