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TransFi now supports China by enabling crypto onramps using Alipay

Published on
September 26, 2023
Written by
Pradhan Prasad
Read time
5 Mins
Payment Partners

Pradhan Prasad

AVP Product & Marketing

TransFi is excited to support users and Web3 enthusiasts to buy crypto using Alipay (Payments Service) in the People’s Republic of China!

Alipay is a digital payment platform developed by Ant Group, a subsidiary of Alibaba Group. It was launched in 2004 and has since become the world's leading digital payment platform after overtaking PayPal as the world's largest mobile digital payment platform in 2013. Alipay today serves over 1.3 billion users globally.  Alipay allows users to make payments for a wide range of goods and services, including online and offline purchases, money transfers, and utility bill payments.

Alipay has been described to be China’s super-app with a wide range of functionalities alongside WeChat. Alipay offers several features specifically tailored to the needs of Chinese users including quick and seamless transactions across public transportation, government services, major online retailers including Alibaba, JD.com, Tmall etc. and even enabling withdrawal of cash from ATMs, though cash is fast disappearing in the populous country due to widespread adoption of digital payments via smartphones.

TransFi has enabled crypto onramps with Alipay to all users from China and the team is happy to welcome them.

Alipay Users can make payments using their smartphones in multiple ways depending on the use case:

User scans QR code generated by merchant: Scan, verify the amount, enter a password or pin, and authenticate. Useful for paying utility bills and in shopping malls.

User generates QR code and is scanned by the merchant: Payment is auto debited from user's account or wallet. Useful in places like cafes and quick checkout stores.

Using user's identity and Face ID: This uses advanced methods including AI based verification with high speed and reliability. Best used for online purchases, public transport, or ATMs.

Alipay is a secure payment platform that uses state-of-the-art security technologies and safety norms to protect user data and funds. It offers fraud protection features, such as 24/7 customer support and buyer protection programs. Users can also earn rewards for using the app. These rewards can be used to redeem discounts on goods and services from Alipay's partners.

Alipay is a powerful and versatile payment platform that offers convenience, secure, and rewarding, and it is integrated with a wide range of products and services online and as well as offline merchants and stores. Alipay is playing an increasingly important role in China's digital economy, and it is expected to continue to grow in popularity in the years to come.

Using Alipay, TransFi has now enabled users to buy crypto in China using local payment methods with ease and convenience.

Alipay Demo:

About TransFi

TransFi is a crypto on-ramp and off-ramp solutions provider focused on emerging markets with the widest coverage of native payment methods, very high conversion rate, supports local currencies, local ID and local languages, offering easy user experience with low entry barrier and at the lowest processing fees. The company is currently LIVE in over 100+ countries for credit & debit cards and another 100+ payment methods in local currencies. We are actively integrating all major payment methods globally. We aim to enable Web3 access for the next billion users around the world with deep focus on emerging markets like Asia, Latin America, and Africa. TransFi is registered in Lithuania as TransFi UAB.

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