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In Depth: China’s Booming Cross-Border E-Commerce Pits Alipay, WeChat Pay Against the World

By Zhang Yuzhe, Ding Feng and Qing Na
2025年01月14日 19:01
Although their QR code-based systems are convenient for buyers, poor transparency and a lack of alignment with international standards have drawn complaints from banks and scrutiny from regulators
A souvenir store displays Alipay QR code signs in Malacca, Malaysia, on Jan. 4, 2023, Photo: VCG

The explosion in China’s cross-border e-commerce fueled by online platforms such as Temu, Shein and Amazon, as well as flourishing international tourism, has led to a boom in business for companies that process and settle international payments.

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