In its latest move, Alipay, the world’s most used payment app has expanded beyond payments as it will now look to allow third-party vendors to offer services like retail, food and healthcare.The payment app is looking to lure in 44 million merchants to expand services for the app’s almost 900 million users. A Bloomberg report says that the app has been experimenting with such an initiative for 3 years now.The move will help Jack Ma-owned Alipaytake the fight to WeChat.
Ant Financial Chief Executive Officer Simon Hu, said in a statement: “Building a one-stop digital lifestyle platform not only creates immense value for our users – it will also play an essential role in accelerating the digital transformation of the service industry and unlocking more growth opportunities.”
Alipayhas seen a recent surge in the number of users even as coronavirus spreads.The company says that it expects the spike in demand for its online services to continue even after this period.
The spike was observed after Alipayestablished a program to motivate developers to create mini-programs to assist people who are working from home.The response was great as over 1,200 developers came on board and worked on 181 mini-programs with “contactless” solutions across China.
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