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Alibaba Launches Pay Watch; Powers Mobile Payments at McDonald’s

Alipay to Power Mobile Payments for Global Restaurant Chain McDonald’s:

Global restaurant chain McDonald’s has collaborated with Alipay, the leading Chinese third-party payment provider and a subsidiary of Alibaba Group. The deal will enable mobile payments in 2,100 McDonald’s stores in China.

According to the Chinese e-commerce giant, 54 out of every 100 payments made with Alipay come from mobile devices. The company provides payment services for more than 460,000 Chinese businesses. Alipay provides an escrow service through which consumers can verify whether they are happy with the goods they have purchased before releasing money to the seller. According to Chi ...

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