Product handbook - Alipay
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Alipay
Launched in 2004, Alipay is the leading digital payment platform in China, serving hundreds of millions of users, and connecting them with merchants and partner financial institutions that offer inclusive financial services and digital daily life services, such as food delivery, transport, and healthcare.
Acquiring Solution
Cross-border Payment
A payment solution provided by Alipay to enable cross-border e-commerce for overseas acquirers and merchants that operate outside mainland China. This solution covers payment products such as Cashier Payment, Auto Debit, In-store Payment, and Pre-authorization.
Zhifutong
A finance solution that covers payment, clearing, and split settlement developed by Alipay for Internet platforms such as e-commerce and digital entertainment. This solution is dedicated to helping the platforms process and settle funds for various merchants in a regulatory-compliant way.
Alipay+
A payment solution provided by the International Business Group of Ant Group for overseas acquirers and merchants to enable one-time integration with Alipay+ e-wallets. This solution covers payment products such as Cashier Payment, Auto Debit, and In-store Payment.
Comparison of Acquiring Solutions
Zhifutong
Alipay+
Cross-border Payment
APIs
Open API
Open API
MAPI
Settlement Mode
Platform Providers
Big Merchants
Platform Providers
Big Acquirers/Merchants
Platform Providers
Big Acquirers/Merchants
Products
Cashier Payment
Auto Debit
Cashier Payment
Auto Debit
Cashier Payment
Auto Debit
Payment Option ①
Single Payment
Combined Payment
Single Payment
Combined Payment
Single Payment
Combined Payment
(Through Alipay Open Platform)
Terminal Type in Single Payment
App
WAP
Web
App
WAP
Web
App
WAP
Web
Terminal Type in Combined Payment
App
WAP
Web
App
WAP
Web
App
WAP
Web
Interest Charge of Huabei Installment in Single Payment
Paid by Consumers
Paid by Merchants
Paid by Alipay
Paid by Consumers
Paid by Merchants
Paid by Alipay
Paid by Consumers
Paid by Merchants
Paid by Alipay
Interest Charge of Huabei Installment in Combined Payment
Paid by Consumers
Paid by Merchants
Paid by Alipay
Paid by Consumers
Paid by Merchants
Paid by Alipay
Paid by Consumers
Paid by Merchants
Paid by Alipay
Buy Now Pay Later ②
Cashier Payment with App
Auto Debit with App
Cashier Payment with App
Auto Debit with App
Cashier Payment with App
Auto Debit with App
Payer-buyer Identification Check
Pre-check (Payment API)
Post-check (Customs declaration API)
Pre-check (Payment API)
Post-check (Customs declaration API)
Pre-check (Payment API)
Post-check (Customs declaration API)
1.In Zhifutong, combined payment is a key feature used by e-commerce and air travel platforms. The top 3 merchants are Kwai, Xiaohongshu, and Ctrip.
2.The Buy Now Pay Later feature is only supported by Zhifutong and requires the integration of additional 8 open APIs. This feature supports Cashier Payment and Auto Debit.
Products and User Experience
Clearing & Settlement
MAPI (direct integration with AlipayCN)
Clearing cycle：T+1（calendar day）
Settlement cycle: T+1（business day）
Settle by day/week/month. Clearing reports are generated every day.
Settle on T+N. Can only settle on T+1.
Obtain reports via the portal and the SFTP.
For more information see Details
Alipay+ (direct integration with Alipay+)
Clearing cycle：T+1（calendar day）
Settlement cycle: T+1（business day）
Settle by day/week/month. Clearing reports are generated according to the settlement cycle.
Settle on T+N.
Obtain reports via the portal and the SFTP.
For more information see Details
Marketing capabilities
Marketing tools
GM Portal
GM portal provides self-service operation capabilities such as e-posters, merchant vouchers, merchant membership cards, and merchant pre-sale vouchers.Learn more
Marketing tools
Marketing tools such as collecting e-stamps, Buy Now, Pay Later with credit scores, favorable settlement rates, and paying in Huabei installments free of interest are provided.
The merchant marketing
The merchant marketing platforms are provided.
Refund
Synchronous refund: For synchronous refunds, once the refund is initiated, the refund result is returned immediately.
Asynchronous refund: For asynchronous refunds, the refund result is not returned immediately, but asynchronously.
MAPI (direct integration with AlipayCN)
Refunds, refund result notifications, and refund result inquiries can be processed via APIs or the global portal. Refund result notifications and refund result inquiries are for asynchronous refunds only.
Synchronous refund
Asynchronous refund
Cancellation for asynchronous refund
Refund result inquiry
Full, partial, and multiple refunds.
One-calendar-year refundable period.
Alipay+ (direct integration with Alipay+)
Refunds can be initiated via API or the partner platform.
Synchronous refund
Asynchronous refund
Cancellation for asynchronous refund
Refund result inquiry
Full, partial, and multiple refunds.
One-calendar-year refundable period.
Cancel
MAPI (direct integration with AlipayCN)
Cancellations are processed via API. Cancellation for online payment products requires additional contracts.
Only full cancellation is supported.
Cancelable period:
For In-store payment and Auto Debit, cancellations are available before T+1 00:15.
For Cashier Payment, cancellations are for available 24 hours after the payment success.
Alipay+ (direct integration with Alipay+)
Cancellations are processed via API.
Only full cancellation is supported.
Cancelable period:
All cancellations are available before T+1 00:15.
Fee
The fee rates and fee calculation rules, such as the fee returning for refunds, are the same for the MAPI and Alipay+.
MAPI (direct integration with AlipayCN)
One mandatory fee: the MDR Fee
Alipay+ (direct integration with Alipay+)
One mandatory fee: the MDR Fee.
The MDR Fee is priced based on various aspects, such as the merchant, the business industry, and the payment method.
For more information see Details
FX
Alipay+ provides FX service to support dynamic currency conversion (DCC) and Locked-in exchange rates, which gives users a familiar experience of the currency they are used to.
Dynamic currency conversion (DCC)
  • DCC allows customers to pay with local currency or their own currency.
    • FX Rate Protection Service
  • The exchange rate is locked at the point of purchase. This exchange rate is also used for the clearing and refund thereafter.
    • MAPI (direct integration with AlipayCN)
    FX rate inquiry: The rates for currency pairs are returned in a .csv file.
    FX rate is determined on transaction
    FX rate is determined on settlement
    Fee mode: Calculate fees in CNY and do the FX on settlement.
    Configure FX rates for merchants
    Alipay+ (direct integration with Alipay+)
    FX rate inquiry
    FX rate is determined on transaction
    FX rate is determined on settlement (planned)
    Fee mode: Calculate fees in the settlement currency.
    Configure FX rates for merchants
    For more information see Details
    Integration Service
    Partner Workspace
    ©  2022 Alipay+
    Product handbook - Alipay