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Business/Finance See other Business/Finance Articles Title: China's Alibaba sets sights on greater US profile with Alipay listing Want... A possible plan by Alipay.com, a third-party online payment platform launched by Chinese e-commerce giant Alibaba Group, to go public in the United States has invited widespread attention. Sohu.com said concerns have been raised because of Alipay's 350 million registered users, making it the biggest third-party payment platform in China and a potential goliath in the American market. Also, because Alipay is a single product, a separate listing seems rather unconventional. There are reasons for the Alibaba Group to have Alipay listed separately in the United States, with the main one being to have the company seize a big share of the American market and generate more profits. Though Alipay is No. 1 in China, it wants to tap into new markets to cement its status as the industry leader, and the United States as the center of global economy has naturally become the company's new target. If it can make inroads into the US market and adapt to its rules, it will have little trouble in expanding to the rest of the world, which is why the separate listing of Alipay is part of Alibaba's global strategy. Alipay's most powerful weapon in penetrating the American market after it is listed in the United States will be its dominance of the Chinese market and its ability to sell American-made goods there. The company feels that US vendors be attracted to a platform with 350 million registered users who can generate high sales and will do everything they can to launch services that support Alipay's system. That support from US businesses and the popularity of the brand name will prompt American consumers to want access to Alipay, helping it gain traction quickly in the American market, explaining another motivation behind Alipay's interest in listing in the United States: recognition. Though Alipay has almost three times as many users as PayPal in the United States, few people in America care much about it. The Alibaba Group generated US$9.3 billion in sales on the Double 11 Festival last year, unrivaled anywhere in the world, but the feat was not widely recognized outside China. In other words, if it cannot achieve success in the United States, it will continue to be dismissed as a third-party payment platform in a small corner of the world. But if Alipay can take the US market by storm, it will be catapulted onto the international stage and its business kingdom will expand, Sohu.com said. Though Alipay will take the initiative after being listed in the United States, it is bound to face steep competition from such rivals as PayPal, Apple Pay and Google Pay, and making a quick splash in the American market may be the company's only path to success. Post Comment Private Reply Ignore Thread
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