# Digital Media Concepts/Alipay
## Alipay

Alipay (China) Network Technology Co.ltd. is a third-party payment platform in China, it dedicated to providing "simple, safe and fast" payment solutions. Now, Alipay has become one of the largest independent third-party payment platforms in China. Alipay has basically replaced cash payment in China and become one of the most mainstream payment methods in China. As of March 31, 2018, Alipay had 870 million users, making it the largest mobile payment service provider in the world.

### Concepts

Alipay was founded by Alibaba Group to solve the problem of online security payment. When the buyer determines shopping, the payment will be remitted to alipay first, and alipay will inform the seller to deliver the goods after confirming the payment. After the buyer receives the goods and confirms the satisfaction, alipay will make the payment to the seller to complete the transaction. In the process of transaction, Alipay, as an honest and neutral third party, fully guarantees the security of payment and the interests of both buyers and sellers.

### Development History

In 2003, Taobao launched Alipay service.
In 2004, Alipay became independent from taobao.com and began to provide payment services to more partners, gradually becaming the largest third-party payment platform in China.
On December 8, 2004, Alipay Network Technology Co, ltd was formally established.
On February 27, 2008, Alipay released its mobile e-commerce strategy and launched mobile payment services. Users could pay their bills by downloading Alipay.
In 2013, Alipay wallet officially became an independent brand.
In 2014, Alipay has become the world's largest payment manufacturer.

### Instructions

First, users need to register an account with their phone number or email. Then, the user needs to bind their card. When the user binds, he can scan the OR code
of the merchant to make payment, or the merchant can scan the QR code of the user to make payment.When the user on the Internet shopping can also be directly binding payment treasure to pay. Alipay can not only pay but also transfer and receive money. Users can also pay off credit cards, phone bills and other services. This brings great convenience to the life of the users.

### Safety Guarantee

Alipay requires users to set their PIN number when they purchase. It also provides three safety products to verify identity : secret signal( users can choose their own image to verify) digital certificate ( users need to bind their ID card to install), and phone number verification. When users log in again, Alipay asks for a fingerprint or gesture to unlock the app. Alipay also provides account security insurance. It is guaranteed up to one million yuan if users lose money due to misappropriation.

### Difference between PayPal and Alipay
#### Scope

PayPal is global, and the common currency is Canadian dollar, euro, British pound, US dollar, Japanese yen and Australian dollar. Alipay is focus on Chinese and is settled in RMB.

#### Protection object

Paypal is a buyer protection policy, while alipay is a seller protection policy. In other words, paypal thinks from the buyer's point of view. If the buyer has any objection, he can lodge a dispute and the seller can't get the money. And if pay treasure to exceed time limitation, buyers and sellers did not concern each other.

#### Hierarchy

Paypal is an organization that ranks members and charges fees for premium accounts, which are more secure. Alipay does not exist.

#### Poundage

The funds of Paypal can be remitted to Banks in the United States or telegraphic transfer to Banks in China. Pay treasure to be able to withdraw money the bank most directly and do not need poundage.

### Other Link

https://intl.alipay.com