Your guide to using Alipay as a Canadian business

Alipay® is a third-party mobile payment provider that lets you receive payments from China. The platform partners with banks and merchants across Canada to offer customers convenient overseas payment options.

But can you use Alipay in Canada? We’ve put together everything you need to know, including how you can use Alipay Canada to accept transactions from global customers – and expand your international reach.

We’ll also take a look at Wise as an addition as well as an alternative to Alipay, for your global business.

An overview of what Alipay offers Canadian businesses

Alipay is the biggest online payment provider in China – making it a convenient way to accept regular payments from Chinese customers. Once you’ve set up an account, your customers can select Alipay as their preferred payment option on your website or digital platform.¹

Alipay offers many key features. Let’s take a look at some of the best ways to use Alipay Canada as a business.

Multiple payment options for your customers

You can use Alipay to accept multiple payment options from your customers. This includes:

• Alipay+
• In-store payments
• Card payment
• Alipay wallet
• Mobile banking app
• Bank Transfer

Alipay lets you easily integrate these payment methods for any business transactions.² The payment platform also enables fewer chargebacks, getting your customers a full refund without affecting your business chargeback rate, or putting you out of pocket.³

However, it’s worth noting that Alipay is best suited to businesses wanting to reach out to more Chinese customers, as the platform isn’t widely recognized outside China. There are also some transaction costs to consider, such as service fees.⁴

Using Alipay+ for your business

Alipay+ is a common payment option for Chinese customers, letting users complete all Alipay transactions online. Alipay+ offers advanced digital features for businesses in Canada to accept payments, with a range of cross-border solutions to connect customers to global brands.

Customers can use Alipay+ at millions of global merchants, with 90+ acquiring service providers and 20+ mobile payment providers.⁵

Your customers won’t experience any extra fees for using Alipay+ to pay for your products or services. However, they may still need to pay a foreign exchange rate charge when making a cross-border payment.⁶

There are also a few Alipay transfer limits to understand. You can only receive a maximum of 600,000 Chinese yuan (CNY) per year for goods or 300,000 CNY per year for services.¹⁴

Marketing to Chinese customers

As one of the most popular digital payment platforms in China, joining Alipay is a great way to reach out to the Chinese market – and you no longer need a Chinese bank account to use Alipay.⁷

You can use Alipay Storefront to provide a virtual shop on the Alipay platform, and the geolocation feature lets Chinese customers find your business. You can also offer special coupons to loyal customers.⁸

However,despite these advanced features, you may find that there are some nuances in marketing strategy when it comes to advertising your services to Chinese customers. Make sure to do your research about how to best promote your business overseas.

Advanced security and safety measures

Alipay is a safe and secure money transfer platform for Canadian businesses, with advanced verification tools. Two-factor biometric verification uses your fingerprints or face ID to verify your identity whenever you want to access your account.

Like PayPal®, Alipay also hides your bank account details, using an encrypted ID to confirm your payment instead. This can reduce fraudulent activity, keeping all information safe on both sides of the transaction.⁹

It’s worth noting that Alipay isn’t insured by the Federal Deposit Insurance Corporation (FDIC) in the US.

This means you may lose any funds within Alipay if the company goes out of business. For this reason, make sure to regularly transfer any payments into your business bank account.¹⁰

Grow globally with Wise

Get ready for your new hassle-free global business account! You can use Wise to manage team expenses, send batch payments, and pay overseas invoices at the touch of a button.

Use Wise Business to:

• access advanced payment features for all your international transfers
• manage team expenses with tools to help you share your financial workload
• send simple batch payments to employees and clients
• maintain multiple business accounts to stay on top of cash management
• pay overseas invoices and bills via the Wise app

Enjoy API Integrations and a convenient app marketplace to integrate Wise Business with your favourite financial tools, features, and services – from Quickbooks to Xero payments.

Reduce your global transfer costs with Wise. Hold money in 40+ currencies and receive funds in 9 currencies with local account details – all** **at the mid-market exchange rate.

Using Alipay and Wise together

You can use Alipay and Wise together to transfer your money abroad. Simply set up a Wise Account to send your funds in CNY – and select “Alipay”.

You’ll need a few details to complete the transaction, including your recipient’s name and Alipay ID, and the reason why you’re sending funds. You can even send from Alipay using Wise in multiple currencies, including Canadian dollars (CAD), US dollars (USD), and British pounds (GBP).

Use these platforms together to access the Chinese market and take advantage of the mid-market exchange rate. It’s a win/win!

Conclusion: Alipay and Wise

Alipay and Wise both offer helpful methods to accept payments from Chinese customers. Get your business out to international markets with these simple and secure money transfer platforms.

Let’s take a look at a few key features of both apps for your global business, including exchange rate margins, supported currencies, and security measures.

To start exploring your international business transfer needs, check out Wise.

Take. your business beyond borders with Wise

Sources verified on 14 December 2023