September 25, 2017 12:49 pm
Updated: September 25, 2017 5:17 pm

Alibaba, China’s answer to Amazon, continues making moves in Canadian market with Alipay app

Alibaba Group, China's version of Amazon, just launched its online payment system in Canada, which will allow Canadian retailers to easily accept Chinese currency from Chinese buyers.

Ng Han Guan/AP
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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.

READ MORE: Trudeau urges Canadian business owners to seek fortune in China

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.

WATCH: Canadian business presence on China’s Alibaba

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.

 

© 2017 The Canadian Press

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