1. What is the corporate background of Alipay?
Alipay is owned by the famous Alibaba Group – one of the biggest Chinese multinational technology companies, that operates in a number of business sectors including Internet, e-commerce, and retail.
With a market value of over 800 billion dollars, Alibaba owns several super e-commerce platforms such as AliExpress, Alibaba, and Taobao.
According to Wikipedia, Alibaba has the sixth-highest global brand valuation, and the online sales and profits of its e-commerce platforms have surpassed all US retailers including Amazon, Walmart, and eBay combined.
Taking Alibaba’s capital level into consideration, one can say that the anti-risk capability of Alibaba is beyond imagination.
2. Does Alipay have buyer protection?
Alipay gives protection to buyers when items fail to be delivered or items are not in line with what described by the seller.
Under circumstances of a failed delivery or unmatched seller’s description, the relevant transaction amount can be fully or partially refunded to the buyer.
The security of the financial information of the users is also guaranteed by Alipay’s advanced security technology and high data encryption standards, there hasn’t been any known online leaking of user’s information since the launch of Alipay.
3. Is Alipay safer than PayPal?
Alipay and PayPal both provide payment solutions to buyers and sellers. As third party payment service providers, Alipay and PayPal are both supposed to be the middle man between buyers and sellers.
But in fact, in terms of disputes, the scale of PayPal leans more to the buyer’s side, while Alipay plays a role as a real escrow agent – it doesn’t get itself involved directly in any disputes between buyers and sellers.
If you are a buyer and you often place orders that you are not that sure about, you can consider using PayPal, because you can enable the PAD (pay after delivery) service offered by PayPal for most of your transactions.
The PAD service allows you to pay for the items you bought after at least 14 days from the date of the transaction.
While from the perspective of sellers, PayPal might not be that much an attractive option to you.
4. Can someone else use my Alipay without my permission?
Theoretically, your Alipay account can’t be accessed by anyone else.
On one hand, the password for login and the password for payment are different from each other, and there are several kinds of passwords including biological codes such as fingerprint, face, even voice. So, stealing an Alipay account is almost impossible.
On the other hand, any unauthorized transaction is covered by the Alipay member protection policy.
5. Is it possible to hack Alipay?
Alibaba Group is not only a global e-commerce giant but also one of the most advanced technology companies in the world. Empowered by Alibaba, Alipay is one of the safest payment channels on this planet.
However, considering the evolving technology nowadays, it would be a lie to say that hacking a website is impossible. But hacking something like Alipay is extremely difficult and dangerous, it’ll cost much more than you and I can possibly imagine.