Alipay has new features that will make it more than a mobile wallet
Alipay, the prominent mobile payments platform from Alibaba and Ant Financial, has introduced a new feature that may expand its influence. The service now has a peer-to-peer transfer and messaging feature, which will allow users to send money between one another using a simple transfer method. The messaging aspect of this feature will also allow users to send digital coupons to their friends, providing them with an effective way to share merchant deals.
Messaging service provides users with a way to share merchant deals with their friends
The messaging feature is expected to increase shopping activity on the Alipay platform. With the ability to share merchant deals, as well as send money to friends, Alipay is becoming much more than a simple mobile wallet. Ant Financial envisions Alipay as a platform that is meant to change the way that consumers shop online and in physical stores.
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Ant Financial is working to expand the capabilities of Alipay to make it more accommodating to mobile consumers
The new features coming to Alipay are part of an overarching initiative wherein Ant Financial aims to expand the commerce capabilities of the platform. Recently, Ant Financial invested nearly $1 billion into Koubei, a local shopping services platform operating in China, which can be accessed through Alipay. Ant Financial has also been working with numerous other companies in order to facilitate mobile payments and provide merchants with a way to engage mobile consumers in an effective way.
Alibaba continues to show aggressive support for the mobile commerce space
Alipay is currently China’s most dominant mobile commerce platform. The platform accounts for 82% of the mobile payments market, as of last year. Others have tried to compete with the platform, but have had relatively little success in doing so. Alibaba continues to show aggressive support for Alipay, as well as the mobile commerce space in general. In the coming years, the company is expected to play an expanded role in the mobile space and introduce further change in the way consumers shop for and purchase products.