Alibaba's online payment platform AliPay coming to Canada, company says
Alibaba Group Chairman Jack Ma speaks at the Bloomberg Global Business Forum, Wednesday, Sept. 20, 2017, in New York. (AP Photo/Mark Lennihan)
The Canadian Press
Published Sunday, September 24, 2017 5:24PM EDT
Last Updated Monday, September 25, 2017 12:38PM EDT
TORONTO - Chinese online payment platform Alipay has partnered with tech firm SnapPay Inc. to enable Canadian retailers to accept Chinese currency from Chinese shoppers through a mobile wallet.
Alipay North America president Souheil Badran says the company wants to offer Canadian merchants the opportunity to access the Chinese market.
He says 700 Canadian merchants already accept Alipay.
But the partnership gives the payment platform an opportunity to aggressively explore opportunities for expansion in the education, winery, restaurant and retail sectors.
The company touts the increasingly lucrative role Chinese consumers could play for Canadian businesses, given the country's growing middle class.
Alipay, originally created by Chinese online shopping giant Alibaba.com, was launched in 2004 and has more than 520 million active users. It is now owned by Ant Financial Services Group, a “related company” to Alibaba.