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Alipay overseas acquiring business analysis

已更新:9月29日




Overseas merchant Acquiring: Chinese consumers pay in RMB through Alipay wallet overseas, and Alipay pays overseas acquirers and merchants in foreign currency.

 

Alipay overseas payment products


Alipay overseas payment products
Alipay overseas payment products

What scenarios does online payment apply to?

Online Payment products are designed for various online business scenarios, such as internet shopping sites, and apps that sell merchandise or services. Customers usually complete the payment online.

It mainly applies to consumption by mainland Chinese consumers in websites/apps of overseas merchants. The mainland Chinese consumers pay through Alipay, which collects payments in RMB from them and settles the payment in foreign currency with the merchant. If the merchant is local in Hong Kong, online payment can also be applied to collect payments in HKD from local consumers and settle in HKD with the merchant.

  • Websites: after placing an order on the merchant's website, the users select Alipay for payment, and the page will jump to the Alipay cashier, where the users log into the account or use the Alipay app to scan QR code and then confirm the order to pay.

  • Apps: after placing an order on merchant's app, the users select Alipay for payment, and the page will jump to their Alipay app, where the users check the order amount and click "confirm" to pay.

What scenarios does in-store payment apply to?

In-Store Payment products are designed for various offline business scenarios, such as supermarkets, convenient stores, restaurants, and other service sectors. Customers usually complete payment at the business place.

It mainly applies to consumption by mainland Chinese consumers in physical stores of overseas merchants. The mainland Chinese consumers pay through Alipay, which collects payments in RMB from them and settles the payment in foreign currency with the merchant. If the merchant is local in Hong Kong, in-store payment can also be applied to collect payments in HKD from local consumers and settle in HKD with the merchant.

There are three payment methods:

  • Payment code: The merchant scans the payment code provided by the consumer;

  • QR code payment - Order code: The user uses Alipay app to scan the merchant's dynamic QR code and then confirms the order to pay;

  • QR code payment - Store code: The user uses Alipay app to scan the merchant's static QR code and then inputs the amount to make the payment.

Currently, Alipay supports settlement currencies: USD, EUR, JPY, GBP, CAD, AUD, SGD, CHF, SEK, DKK, NOK, NZD, THB, HKD

Overseas merchant qualification requirements

The qualification requirements of overseas merchants are basically the same as those of the Chinese mainland. Overseas merchants basically have to complete the access through local acquirers and partners. According to different business scenarios of merchants, the qualifications are also somewhat different:


Basic qualification requirements for online payment Merchants:

  1. The company has a legally registered overseas company with authentic and valid business license.

  2. Your company's basic information, such as industry, company name, address, contact person and contact information.

  3. Have an e-commerce website that is independent, either PC or mobile. The website/app should contain a payment link.

  4. Companies with apps only should provide an app introduction page in the Apple Store/Android Market.

  5. The products and services must comply with relevant legal provisions and Alipay requirements.

Basic qualification requirements for In-Store payment Merchants:

  1. Authentic and valid business license (company/individual).

  2. Basic information about your store, such as industry, store name, address, photos (including door and interior photos), contact person and contact information.

  3. The business scope must comply with relevant legal provisions and Alipay requirements.

Overseas partner types and cooperation requirements


Acquirer

Mainly local banks and Acquiring License Financial Institution Group, will participate in the business of merchant settlement and marketing. Alipay basically around the world have acquiring partners.

In addition to having a good reputation and business capabilities, overseas acquirers should also meet the following criteria:

  • Have obtained all necessary company registration, management approvals or licenses (financial licenses, capital settlement qualifications) required to operate the business.

  • The financial situation is stable and sound.

  • Good credit history, not included in any list of prohibited or prudent development by any regulatory agency or bank card organization.

  • Have a secure and effective software and hardware system to ensure that merchants' use of Alipay services is reliable, effective and robust.

  • Signed an agreement with the merchant for the use of Alipay service.

  • According to Alipay requirements, develop a reasonable risk control system.

ISV

Independent Software Vendors (ISVs) provide technical integration services for merchants based on Alipay's standard API. ISVs also support merchants with vertical expertise to create industry-specific payment solutions.

Application Conditions:

  • The institution of the ISV partner shall be in legal existence for at least 5 years, and shall not have been involved in any major unlawful activities, financial misconduct or penalties.

  • Have the ability to conduct integration development.

  • Possess merchant resources and the capacity to expand the merchant base. Be capable of providing merchant operations and management.

  • Be able to provide multi-channel and multi-language support for merchants across time zones.

  • Agree to accept risk supervision from Alipay and sign an NDA and limited exclusivity agreement.

ISO

Independent Service Organizations (ISOs) help to promote Alipay by using their marketing expertise and local resources.

Application Conditions:

  • A good commercial reputation and all the qualification certificates required to operate business are required.

  • A scale of operation and a sound and stable financial system and status are required.

  • A sound business credit is required. Applicants must not be on any prohibition development or prudent development list by any regulatory authorities or bankcard organizations.

  • The relevant local license to operate your business is required.

In addition, according to the latest requirements of Alipay, if overseas acquirers, ISV and ISO want to apply for cooperation with Alipay, they also need to provide a list of at least 20 customers who are currently cooperating with institutions and intend to access Alipay in the near future.

Main work of overseas partners

Technical Support

  • Provide technical support services to merchants so that merchants can obtain Alipay services

  • Install Alipay-designated equipment for merchants, including but not limited to debugging software and hardware systems, training, etc

  • Collect and upload business licenses and licenses

  • Ensure that merchants can place and publish point of sales information in accordance with Alipay requirements

Marketing Promotion

  • Provide design and branding services for marketing and promotional campaigns such as photo shoots and graphic design for retail stores

  • Planning and implementation of marketing and promotional activities

  • Provide common promotion services through offline channels

  • Provide data analytics services to merchants after relevant promotions

  • Support merchants to operate online stores

Merchant management responsibility

Merchant Management

  • Timely submission of business information and transaction information.

  • Approving Merchant Network Information.

  • Continuous monitoring of merchant transaction activity.

  • On-site visits to merchants.

  • Training for businesses.

Transaction management

  • Keep all transaction records and supporting documents for at least five years from the date of each transaction.

  • Encryption of personal information collected.

  • Timely settlement with merchants.

  • Identify any suspicious transactions and file a suspicious transaction report with local regulatory authorities if necessary.

Regulatory cooperation

  • Cooperate with Alipay and participate in all investigations conducted by relevant departments, including due diligence, anti-money laundering investigations, etc.

Overseas acquiring typical business process


Overseas acquiring typical business process
Overseas acquiring typical business process

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