Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 10 companies across 2 categories.
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Founded in 2004 as a simple escrow payment service for Alibaba's Taobao marketplace, Alipay rapidly evolved into China's dominant mobile payments super-app, adding wealth management (Yu'e Bao), lending (via MYbank), insurance, and credit scoring under the Ant Financial (now Ant Group) umbrella. The international expansion pivot from ~2019 onward created Alipay+ as a network aggregating Asian digital wallets (AlipayHK, GCash, TrueMoney, DANA, KakaoPay, etc.) and connecting them to global merchants — effectively building a cross-border acquiring layer. A regulatory crackdown by Chinese authorities in 2020–2021 halted the planned IPO and forced a structural reset, reducing Ant Group's financial leverage activities and placing greater regulatory oversight on the platform.
Other PSP providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
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<img src="https://www.embeddedfinanceindex.com/api/badge/alipay/install" width="1" height="1" alt="" style="display:none">10 companies disclose Alipay in their stack in the Embedded Finance Index 2026, including Ant Financial, Alibaba, Airbnb, MoMo, Toka, Fiuu, Chinas Ant Group, BillEase, Ant Group and Singapore Changi Airport.
Alipay is an embedded-finance provider in PSP and FX / Payouts. It ranks #46 of 538 PSP providers by disclosed buyers.
The most-disclosed PSP alternatives to Alipay are Stripe (783 buyers), Adyen (278 buyers), PayPal (153 buyers), Checkout.com (113 buyers), Worldpay (89 buyers) and Mollie (64 buyers).
Alipay was founded by Jack Ma and is founded in 2004, headquartered in Hangzhou, Zhejiang, China.
Alipay has raised $4.5B in total.
Get a read on where your own stack stands against Alipay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.