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Alipay Shuts Down Offline POS Payment Services

Sohu IT, 8/27/13

Chinese third-party payment processor Alipay has announced on its official microblogging account that the company will terminate all offline POS payment services, citing "well-known reasons."

Editor's Note: Industry insiders have speculated that Alipay has bowed to pressure from Chinese banking network China UnionPay. At a recent China UnionPay board meeting, the company released a directive stating that that it will push for all offline and online payment transactions in China to be carried out through UnionPay, targeting third-party payment operators such as Alipay. For more information on this topic, please see "Alipay Launches Offline Payment Service," MD 3/19/12 issue.

Keywords: Internet Alipay China UnionPay POS third-party payment e-payment

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The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

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