CLSA Research met with Alipay’s distributor SiPay during the 9th Annual Payment China conference in Shanghai. SiPay is confident that Alipay will eventually take over the Chinese credit card market
On Friday, in a report CLSA Research remarked on its latest discussion with SiPay –a distributor of Alipay in the ninth Annual Payment China Conference geld in Shanghai. SiPay is extremely bullish on SiPay, which is combining other apps and eliminating credit cards need for general customers in the country. The credit card market of china stood at $6.84 trillion till the year 2014.
In a meeting with CLSA, SiPay believes that Alipay will ultimately unite the F&B listing and Dianping, in order to allow merchants to set up and issue coupons on the platform of Alipay, and customers can avail discounts and continuous payments.
SiPay is optimistic that Alibaba Group Holding Ltd.’s Alipay will be able to replace the requirement of credit cards in the country because the platform have the ability to provide personal loans via the app. CLSA Research also believes this is promising, as it is much more appropriate to use Alipay or cash for small payments.
However, in the case of big amounts, consumers will still prefer to use credit card or debit card, keeping in mind the security issues. Point acceptance for payment of large amounts and Alibaba platform’s inclination to ensure large amount payments are other delaying factors for them, highlighted by Cherry Ma, analyst at CLSA Research.
In another news, Financial Market director at Research Bureau of People’s China Bank, Yu Li also believes that the four upper most Chinese banks was unsuccessful to deliver satisfactory services to the consumers and small and medium enterprises, whereas the internet finance proliferation establishes transparency and reduces the gap.
For example, former Chief Executive Officer of Alibaba Group Holding, Jack Ma, said, “If the banks do not change, Ali(baba) will change the banks.” The Chinese e-commerce giant launched a YuE Bao, which changed the whole landscape and wealth management product concept.
The Street is decisively bullish on Alibaba Group. Almost 51 analysts covered the stock of the company. Out of which, 44 gave a Buy, while 5 of them rated the stock as Hold. The twelve month mean stock price target is $109.41, showing approximately 22.4% of upside potential compared to closing price of $89.38 on Friday May 29.
Alibaba Group Holding stock was down 0.33% to $90.48 at market close on Tuesday June 2nd. The Chinese online company has 52 week high and low of $120 and $77.77, respectively. it has $226.54 billion of market cap and 49.80x of price to earnings multiple.
On Friday, in a report CLSA Research remarked on its latest discussion with SiPay –a distributor of Alipay in the ninth Annual Payment China Conference geld in Shanghai. SiPay is extremely bullish on SiPay, which is combining other apps and eliminating credit cards need for general customers in the country. The credit card market of china stood at $6.84 trillion till the year 2014.
In a meeting with CLSA, SiPay believes that Alipay will ultimately unite the F&B listing and Dianping, in order to allow merchants to set up and issue coupons on the platform of Alipay, and customers can avail discounts and continuous payments.
SiPay is optimistic that Alibaba Group Holding Ltd.’s Alipay will be able to replace the requirement of credit cards in the country because the platform have the ability to provide personal loans via the app. CLSA Research also believes this is promising, as it is much more appropriate to use Alipay or cash for small payments.
However, in the case of big amounts, consumers will still prefer to use credit card or debit card, keeping in mind the security issues. Point acceptance for payment of large amounts and Alibaba platform’s inclination to ensure large amount payments are other delaying factors for them, highlighted by Cherry Ma, analyst at CLSA Research.
In another news, Financial Market director at Research Bureau of People’s China Bank, Yu Li also believes that the four upper most Chinese banks was unsuccessful to deliver satisfactory services to the consumers and small and medium enterprises, whereas the internet finance proliferation establishes transparency and reduces the gap.
For example, former Chief Executive Officer of Alibaba Group Holding, Jack Ma, said, “If the banks do not change, Ali(baba) will change the banks.” The Chinese e-commerce giant launched a YuE Bao, which changed the whole landscape and wealth management product concept.
The Street is decisively bullish on Alibaba Group. Almost 51 analysts covered the stock of the company. Out of which, 44 gave a Buy, while 5 of them rated the stock as Hold. The twelve month mean stock price target is $109.41, showing approximately 22.4% of upside potential compared to closing price of $89.38 on Friday May 29.
Alibaba Group Holding stock was down 0.33% to $90.48 at market close on Tuesday June 2nd. The Chinese online company has 52 week high and low of $120 and $77.77, respectively. it has $226.54 billion of market cap and 49.80x of price to earnings multiple.