JPMorgan Chase and Alipay join forces to support Alibaba's payment with US credit cards!

It is learned that recently, the American bank JPMorgan Chase announced a cooperation with Alipay, and the Alibaba website provides US credit card processing services.

Data shows that Alibaba has more than 26 million active buyers each year who shop from 200,000 global sellers. The company said that about 30% of transactions on the platform come from the United States, and U.S. transaction volume increased by 150% year-on-year from 2020 to 2021.

In addition, JPMorgan Chase is not only the number one payment provider in the U.S., but is also the top acquirer of Nilson in the U.S. e-commerce sector. The company also provides financial consulting as well as deposit, credit and cash management services to more than 4 million small businesses.

One of the biggest trends in e-commerce right now is shopping platforms, which accounted for almost 50% of online purchases in 2020, according to Statista. Global online sales are expected to exceed $420 billion by the end of 2021.

As e-commerce grows, small and medium-sized businesses need a fast and secure way to accept payments from customers across multiple payment channels and methods. With JPMorgan Chase’s payment processing capabilities, Alipay can now provide free payment and order protection services on Alibaba’s US site.

Editor✎ Irene/

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