Here’s how Alipay plans to support 40M Chinese service providers 

Consumer demand for digitalized services has been expanding rapidly

Alipay

Here’s how Alipay plans to support 40M Chinese service providers. Source: shutterstock.com

Alipay announced a 3-year plan to support the digital transformation of 40 million service providers across China. This way, Alipay is expected to strengthen its positioning in China.

It’s evolving from a platform that provides inclusive financial services to an open digital ecosystem offering users a gateway into a digital lifestyle.

The service sector in China is still in the nascent stages of digital transformation, and that means it has huge untapped potential. Amid the ongoing coronavirus outbreak, we have also seen how digital technology can be used to help service providers become more agile and respond effectively to the fast-changing market environment
Simon Hu, Ant Financial Chief Executive Officer 

Amid the coronavirus outbreak, Alipay introduced an initiative for the developers. It encourages them to create mini-programs aimed to fulfill the needs of users who are working remotely while minimizing physical contact with service providers. As a result, over 1,200 developers created 181 mini-programs on the Alipay app that enabled contactless services across China.

In 2019, the number of searches for lifestyle services within the Alipay app has increased by 300%, compared to 2018.

Alipay will provide its users with access to personalized recommendations from newly added service sections. This way, service providers will be able to develop their distribution efficiency in Alipay.

In addition, Alipay will also work with 50,000 Independent Software Vendors (ISVs) to help 40 million service providers digitalize their operations. Besides, they will be able to increase efficiency and reach more customers by 2030, up from over 1 million currently on the platform.

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