Alipay Payment System and Maintaining Sustainability in IT Business

Running head: NETWORKS, COLLABORATION, AND SUSTAINABILITY
NETWORKS, COLLABORATION, AND SUSTAINABILITY
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NETWORKS, COLLABORATION, AND SUSTAINABILITY
Table of Contents
Part A.........................................................................................................................................2
Introduction............................................................................................................................2
Benefits of using Alipay:.......................................................................................................2
Problems faced during the use of Alipay:..............................................................................2
Detailed mechanism used in Alipay:......................................................................................3
Difference and similarities between Alipay and other online payment system:....................3
Conclusion..................................................................................................................................3
Part 2:.........................................................................................................................................4
Abstract..................................................................................................................................4
Introduction............................................................................................................................4
Steps to create sustainable business strategy.........................................................................5
Maintaining the network and the collaborative partnership:..................................................6
Conclusion..................................................................................................................................7
References..................................................................................................................................8

NETWORKS, COLLABORATION, AND SUSTAINABILITY
Part A
Introduction
Alipay is a payment platform mostly famous in the China. The founder company of
the Alipay is Alibaba. Alipay beats PayPal as the world’s largest mobile payment platform in
2013. The functionality of Alipay includes 65 financial institutions which also includes Visa
and Mastercard. The paper will discuss the different perspective of Alipay.
Benefits of using Alipay:
The main benefits of Alipay is that it can be used in the smartphones. For the local in
store payments QR code is used. The credit card bill payment and the management of the
bank accounts can be done through the use of Alipay. Apart from that peer to peer
transactions and purchasing tickets, ordering foods, paying the insurance bills can be done
through Alipay (Guo & Bouwman, 2016). Apart from that Alipay has introduced services
regarding the credit card repayment system that supports the accounts of the domestic banks.
One of the main advantage of this credit card repayment system through Alipay is that credit
card bill payment and repayments does not requires any administration fee.
Apart from that the use of Alipay is supporting the cashless transaction that will help
many business organizations to expand the business. The transaction of the money can be
made from overseas account easily as Alipay supports the transaction in the international
context (Xu, Ghose & Xiao, 2018). The sales or the income tax can be collected through the
purchasing of the goods in overseas through the use of Alipay transaction.
Problems faced during the use of Alipay:
The main problem with the Alipay is the security of the overall system. The Alipay
operator was accused in the case of breaching of the data. However, the privacy policies were
modified after the breaching of the data is identified.

NETWORKS, COLLABORATION, AND SUSTAINABILITY
Detailed mechanism used in Alipay:
Alipay is a third party payment system, which can be used for making the payments
through the credit and debit cards. The Alipay is associated with the 64 financial institutions.
Apart from that for the credit card repayment, this payment application has the collaboration
with the 34 domestic banks.
Difference and similarities between Alipay and other online payment system:
The difference between the Alipay and the other online payment system raised by
through the smart and strategic business strategy made by the Alibaba group. At first PayPal
was failed to capture the market of China.
People are preferring Alipay because, the transfer of the money to the ban accounts
can be done within two hours. No extra fee is needed to paying the credit card bills. Apart
from that the mobile recharge can be done with credits. Other facilities like checking the
balances and buying tickets along with ordering foods can be done through the Alipay.
The other online transaction system acts only as the platform for money transfer. On
the other hand Alipay can be used for different purpose. This will help this online application
a competitive advantage.
Conclusion
The paper has discussed the different aspects of the Alipay payment system. In this
context, the discussion has done regarding the difference of Alipay with the other online
payment system. Moreover, the benefits and the working principals have also been described
in this context. However, there are some problems regarding the breaching of the data in the
system. Alipay was accused of not maintaining the security in a proper way. The changes in
the security specification were done after this acquisition. It has been seen that with the use of