Chinese online payment giant Alipay said Wednesday it had reached a landmark 1 billion users across the globe.
In addition to home market China, Alipay is in service in eight other countries.
Alipay and Tencent’s WeChat Pay dominate China’s mobile payment market, controlling more than 90% of the market, according to China-based data analysis firm Analysys.
As the China market saturates, Alipay has started targeting users outside the Chinese mainland. Alipay’s owner, Ant Financial, has formed partnerships with local companies in countries such as Pakistan and South Korea to target customers there.