SWOT Analysis Of Alipay
Introduction
China's e-commerce has made great progress in its development, however, it is always a concern whether online payment can be safe, convenient and smooth. Third party payment model, represented by Alipay, has attained an important role in the field of online payment due to its unique advantages. The following report covers third party payment model from Alipay, a SWOT analysis, and corresponding countermeasures for the problems and challenges faced by enterprises using third party payment.
China back in the late 1990s
In the earlier days, cash payment was mainstream in China. Most consumers did not know that e-commerce, served as a purchase platform, can be closely related to online payment system. Jack Ma founded Alibaba in …show more content…
Moreover, Alipay offers multiple financial services to meet the needs of their consumers and the collaboration makes Alipay to remain competitive in the market. As people are more dependent of social media, a strong reputation implies consumers place additional value in the brand and hence, forming a strong social network. Lastly, in order to prevent fraudulent transaction or disputes which may arise later, detailed records can be used as an evidence.
Weaknesses:
Virtual goods such as websites, domain name or programs are risky to deal if any disputes arises. Alipay might lack in judgemental criteria since the tracking record is minimal. Furthermore, Alipay’s buyer protection may pose a risk to sellers as such buyers refuse to make payments after receiving the goods. As Alipay requires lots of personal details for registration of account, in any cases where hackers invade the system, personal information can be leaked. Due to geographical limitation, it's still not popular in overseas …show more content…
2017. Alipay vs WeChat Pay – who is winning the battle?. Available at: https://www.aseantoday.com/2017/02/alipay-vs-wechat-pay-who-is-winning-the-battle
Cheung. MC ,2017. More than 95% of Internet Users in China Use Mobile Devices to Go Online. Available at: https://www.emarketer.com/Article/More-than-95-of-Internet-Users-China-Use-Mobile-Devices-Go-Online/1015155
ChinaRealNews: China issues third-party payment licenses 2011, , Newstex, Chatham.
ChinaRealNews: GMV of China's online shopping market up 23.6% in Q3 2016, , Newstex, Chatham.
Choi, Y. & Sun, L. 2016, "Reuse Intention of Third-Party Online Payments: A Focus on the Sustainable Factors of Alipay", SUSTAINABILITY, vol. 8, no. 2, pp. 147-147.
Hendrichs, M. 2015, "Why Alipay is more than just the Chinese equivalent of PayPal" Available at: https://www.techinasia.com/talk/online-payment-provider-alipay-chinese-equivalent-paypal
iResearch, 2017. The GMV of China's Third-Party Mobile Payment Shot up 113.4% in Q1 2017. Available at:http://www.iresearchchina.com/content/details7_34723.html
iResearch. 2017. China's Third-Party Online Payment GMV Hit 6.4 Tn Yuan in Q1 2017. Available at:
China's e-commerce has made great progress in its development, however, it is always a concern whether online payment can be safe, convenient and smooth. Third party payment model, represented by Alipay, has attained an important role in the field of online payment due to its unique advantages. The following report covers third party payment model from Alipay, a SWOT analysis, and corresponding countermeasures for the problems and challenges faced by enterprises using third party payment.
China back in the late 1990s
In the earlier days, cash payment was mainstream in China. Most consumers did not know that e-commerce, served as a purchase platform, can be closely related to online payment system. Jack Ma founded Alibaba in …show more content…
Moreover, Alipay offers multiple financial services to meet the needs of their consumers and the collaboration makes Alipay to remain competitive in the market. As people are more dependent of social media, a strong reputation implies consumers place additional value in the brand and hence, forming a strong social network. Lastly, in order to prevent fraudulent transaction or disputes which may arise later, detailed records can be used as an evidence.
Weaknesses:
Virtual goods such as websites, domain name or programs are risky to deal if any disputes arises. Alipay might lack in judgemental criteria since the tracking record is minimal. Furthermore, Alipay’s buyer protection may pose a risk to sellers as such buyers refuse to make payments after receiving the goods. As Alipay requires lots of personal details for registration of account, in any cases where hackers invade the system, personal information can be leaked. Due to geographical limitation, it's still not popular in overseas …show more content…
2017. Alipay vs WeChat Pay – who is winning the battle?. Available at: https://www.aseantoday.com/2017/02/alipay-vs-wechat-pay-who-is-winning-the-battle
Cheung. MC ,2017. More than 95% of Internet Users in China Use Mobile Devices to Go Online. Available at: https://www.emarketer.com/Article/More-than-95-of-Internet-Users-China-Use-Mobile-Devices-Go-Online/1015155
ChinaRealNews: China issues third-party payment licenses 2011, , Newstex, Chatham.
ChinaRealNews: GMV of China's online shopping market up 23.6% in Q3 2016, , Newstex, Chatham.
Choi, Y. & Sun, L. 2016, "Reuse Intention of Third-Party Online Payments: A Focus on the Sustainable Factors of Alipay", SUSTAINABILITY, vol. 8, no. 2, pp. 147-147.
Hendrichs, M. 2015, "Why Alipay is more than just the Chinese equivalent of PayPal" Available at: https://www.techinasia.com/talk/online-payment-provider-alipay-chinese-equivalent-paypal
iResearch, 2017. The GMV of China's Third-Party Mobile Payment Shot up 113.4% in Q1 2017. Available at:http://www.iresearchchina.com/content/details7_34723.html
iResearch. 2017. China's Third-Party Online Payment GMV Hit 6.4 Tn Yuan in Q1 2017. Available at: