According to the Xinhua News Agency, the official press agency of the People’s Republic of China, Wal-Mart Stores has teamed with e-tailing giant Alibaba on a mobile payment system. Alibaba will process mobile device payments for 25 Wal-Mart stores in south China under the deal.
In the launch of the partnership, consumers in the city of Shenzhen can now pay for their purchases using Alipay Wallet, the organization stated.
China’s mobile payment market is rising, with transaction volume on third-party platforms exceeding $1.1 trillion last year, the organization asserted, citing a report by consultancy Analysys International. Alipay Wallet has more than 270 million active users, the news agency related, this time citing Alipay statistics. More than 40,000 retail stores operating in China, including supercenter operator Carrefour, accept payment through the app, the organization added, noting that Wal-Mart owns more than 410 outlets across the country.
Alibaba runs a number of retail and wholesale Internet businesses, including China’s major online retail operation.