WeChatPay and Alipay are two giant of the online payment industry. Even though they provide mainly to the Chinese market, they own a massive amount of users. WeChatPay and Alipay are on the way of global expansion, and you may not be familiar with these two online payment platforms now, but I can bet that you will be soon.
The expansion of WeChatPay and Alipay continues around the world. If your business is targeting directly or indirectly the Chinese market or Chinese customers, it might be a good idea for you to offer these two payment options for your customers.
The reason why these two giants are expanding globally is clear. To target Chinese money abroad, they need to make Chinese consumers comfortable even when outside the borders of mainland China.
The way Chinese approach shopping is, in fact, unique compared to the rest of the world. If it is true that online payments in China have become more ubiquitous than anywhere else around the globe, it must be recognized that Chinese consumers firmly believe in trust. Trust is especially important when it comes to clicking the buy button.