Stripe has secured global partnerships with Alipay and WeChat Pay, the two most popular payment services in China, which combined own 92% of the mobile wallet marketshare.
“Digital wallets are the payment method of choice in mobile-first markets like China,” explains Piruze Sabuncu of Stripe. “We’re introducing global support for Alipay and WeChat Pay, connecting Stripe businesses in 25 countries to the hundreds of millions of Chinese consumers that actively use these payment methods.”
The news comes as Stripe officially launched in Hong Kong, which Sabuncu considers “a launchpad for thousands of globally-minded Asian entrepreneurs and a gateway to Asia for businesses around the world.”
Both Alipay and WeChat Pay can be implemented with Sources, Stripe’s API for accepting any payment method with a single integration.
“Additionally, we’ve partnered with Alipay to support recurring payments for Stripe users, which we hope will help SaaS and subscriptions-based businesses create frictionless experiences for customers paying with Alipay,” says Sabuncu.