Alipay was launched in China in 2004 by Alibaba Group and is one of China’s leading third-party online payment solution, providing an easy, safe and secure way for millions of individuals and businesses to make and receive payments on the Internet. Alipay provides an escrow payment service that reduces transaction risk for online consumers; shoppers have the ability to verify whether they are happy with goods they have purchased before releasing funds to the seller. Since its launch, AliPay has quickly become a domestic leader in online payment solutions in China.