NEW YORK & OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, the open API payment card issuing platform, and Alipay, the world's leading third-party payment platform, have partnered to streamline payment acceptance for millions of Chinese travelers paying with Alipay when shopping in the U.S. Through the partnership, Marqeta’s platform will facilitate the completion of Alipay’s payment process in real-time, providing Alipay’s more than 520 million registered users in China with easy and seamless purchasing capabilities at millions of domestic retail locations across the country.
“We’re thrilled to partner with Marqeta and take advantage of the most modern, flexible and scalable payment platform in the market today,” said Mr. Souheil Badran, President, Alipay North America. “Marqeta’s technology is unsurpassed for flexibility, security, speed, and ease of implementation – elements that ensure we are bringing the best experience possible to our fast-growing base of users and merchants.”
Today, Alipay is the leading online payment provider and the primary means of online and mobile payment in China and many other countries. U.S. retailers benefit by being able to provide the same easy payment experience to Chinese tourists visiting the U.S.
“Alipay’s reach, consumer base, and transaction velocity is impressive, and we’re excited to be the partner for Alipay in the U.S.,” said Jason Gardner, CEO of Marqeta. “The Marqeta platform will ensure a seamless user and merchant experience across the U.S. that Alipay’s customers need when traveling and shopping abroad.”
Operated by Ant Financial Services Group, Alipay is the world’s largest mobile and online payment platform. Launched in 2004, Alipay currently has over 520 million active users in China and over 200 domestic financial institution partners. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Over 10 million brick-and-mortar merchants now accept Alipay across China. Alipay’s in-store payment service covers more than 30 countries across the world, and tax reimbursement via Alipay is supported in 24 countries and regions. Alipay works with over 250 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 27 currencies. Follow us on Twitter @antfinancial and @alipay.
Marqeta is the first modern card issuing and core processing platform, powering prepaid, debit and credit cards for the world’s top commerce innovators. Marqeta’s advancements represent the first fundamental updates in the past twenty years to card issuing platforms, a $30 trillion addressable market covering all possible cardable spending. Marqeta employs more than 100 people and is headquartered in Oakland, California. For more information, visit Marqeta on our website, Twitter, and LinkedIn.