Alipay™

AliPay is a significant third-party mobile and online payments platform owned by the Alibaba Group®, established in February 2004. It is recognized as one of the world's largest payment platforms, predominantly serving customers in China and across the Asia-Pacific region. AliPay supports payment transactions both online and in physical stores. Unique among payment platforms, AliPay utilizes an escrow system where funds are held for seven days after a transaction is completed before being transferred to the merchant. This setup ensures that if a customer reports an issue with their purchase during this period, the funds remain secured until the dispute is satisfactorily resolved. Depending on the resolution, the funds may be returned to the customer or released to the merchant, thereby enhancing security and trust in the transaction process. This feature distinguishes AliPay in providing added safety and reassurance to both buyers and sellers engaging in digital commerce.