Alipay is China's leading third party payment platform, and it's being more widely accepted in the UK. Photo Credit - Alipay
A growing number of UK companies are accepting Alipay, in a bid to be more accessible to Chinese customers.
Alipay has roughly 400 million users in China, with a share of around half of the online payments market. For those who are not familiar with Alipay, its services are broadly similar to those of Paypal.
The latest UK retailer to start accepting Alipay is The Body Shop, who decided to take the payment method in some Central London stores in time for Golden Week in October. A roll-out to the rest of Body Shop's UK stores is now anticipated.
British shops are also starting to accept China UnionPay, which is the third largest payment network in the world after Visa and MasterCard.
The global growth of Chinese payment services might help to account for the fact that Alipay reported a huge increase in cross-border payments on Singles Day. Apparently, customers in 224 countries used Alipay for their Singles Day purchases - with transactions rising by 60 percent when compared to last year.
If you're interested in finding out more about Singles Day, you can find our handy guide here.
News | December 26,2016