Rakuten Opens Japanese E-Commerce to Chinese with Alipay
April 24, 2014
While tensions between their governments continue to run high, it was business as usual between China and Japan this week. Rakuten, the dominant e-commerce shopping site in Japan, has begun accepting Chinese payment method Alipay. The deal will make it easier for Chinese consumers to use the Rakuten marketplace.
According to published reports in China, about 250 shops in Rakuten’s Global Market began accepting the payment method recently with plans to increase that number eventually to 10,000. Alipay was recently spun off from e-commerce giant Alibaba Group, which is planning a U.S. IPO that could eclipse Facebook as the most valuable tech IPO ever.