BEIJING Feb 8 The payment affiliate of Alibaba
Group Holding Co., China's biggest e-commerce company, said on
Saturday it completed more mobile payment transactions in 2013
than U.S.-based PayPal and Square Inc. combined.
Last year, more than 100 million users completed over 2.78
billion mobile transactions with a total value topping 900
billion yuan ($148.43 billion), according to a posting on
Alipay's Weibo microblogging account.
In China, mobile transactions are becoming increasingly
popular as more consumers use devices to buy everything from
movie tickets to clothing.
Mobile payments also are driving the growth of e-commerce in
Europe and the U.S. At PayPal, a division of Ebay Inc.,
mobile payment volume nearly doubled to $27 billion in 2013, the
company said last month.
Alipay said that at the end of last year, it had nearly 300
million real-name users, or nearly one-half of China's 618
million internet users. Alipay users completed 12.5 billion
transactions in 2013, the company said.
Alibaba , which controls nearly 80 percent of
China's internet shopping market, is expected to sell shares
this year in what could be the biggest initial public offering
since Facebook Inc's 2012 float. Alibaba's value has been
estimated between $115 billion and $200 billion.