U.S online payments company Stripe announced today that it is making a move towards China’s mobile wallet ecosystem by signing a cooperation agreement with both Alipay and WeChat Pay. Stripe already supports payments through BitCoin, ACH payments, and all major credit and debit cards.
“Today, we’re introducing global support for Alipay and WeChat Pay, connecting Stripe businesses in 25+ countries to the hundreds of millions of Chinese consumers that actively use these payment methods,” the company said in a statement.
Alipay and WeChat Pay can be implemented with Sources, Stripe’s unified API that accepts all payment methods with a single integration. Stripe users will also be able to make recurring payments with Alipay which will enable a smoother user experience.
Stripe has also officially launched its Hong Kong office which will enable local companies to use their services, such as Stripe Radar, Custom accounts, and 3D Secure support. Hong Kong users will also be able to get paid out in USD without currency conversion to local, USD-denominated bank accounts.
Stripe currently operates in 25 countries. Its investors include Sequoia Capital, Andreessen Horowitz, and PayPal co-founders Peter Thiel, Max Levchin, and Elon Musk.