International transactions can be quite daunting for want of seamless pathways to make such transactions. Paypal and Alipay have been very helpful over the years though they both have their own limitations, which is easy transfer of money.
Prior to this time, many believed that it’s impossible to successfully transfer money from a PayPal to an AliPay account.
Yea, it sounds true because there is no direct way of doing that. But on the other way round, there are several indirect ways you can make a transfer from PayPal to AliPay account successfully.
So, if you’re looking for a Full Guide on how to Transfer Money Fast From Paypal to Alipay, follow me closely on this article.
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PAYPAL, an Internet service founded by Peter Thiel and Max Levchin in December 1998, enabled money to be transferred between users who identified themselves through e-mail rather than the conventional way of sending checks or remittances.
Other than the RMB, Paypal currently supports payments and transactions in 190 countries and 23 currencies.
You can sign up for a PayPal account, authenticate as a customer, provide credit card or bank details, and increase the amount of your account as long as you have an email address.
Transfer a specific sum of money from an account that was registered when the account was opened to a PayPal account.
Users in the United States can only top up their PayPal accounts with a debit card that looks like ours, and users in 189 other countries cannot top up their PayPal accounts with a bank card.
Furthermore, customers in any given country are unable to recharge using credit cards.
Alibaba Group and its founder Jack Ma launched Alipay, a third-party mobile and online payment site, in Hangzhou, China, in February 2004.
Pay relocated its headquarters to Pudong, Shanghai, in 2015, while its parent company, Ant Financial, is still headquartered in Hangzhou.
In 2013, Alipay surpassed PayPal as the world’s largest mobile payment network. Alipay had a 54 percent share of China’s US$5.5 trillion mobile payment market in the fourth quarter of 2016, far and away the largest in the world, but its share had fallen from 71 percent in 2015 as Tencent’s WeChat Pay was rapidly catching up.
Alipay allows you to connect a bank card and a credit card, and you can use the bank card to recharge as well as make transactions using the credit card.
Paypal also accepts RMB payments, and Alipay also accepts foreign currency payments. However, because of China’s strict foreign exchange control policy, Paypal and Alipay belong to different countries of payment tools.
Here are the steps you must take to build an account with PayPal or AliPay.
How Can I create PayPal or Alipay account?
To create a PayPal account, follow the steps below:
PayPal USD vs. AliPay USD
PayPal is well-known all over the world. AliPay, on the other hand, is very common in China. If you’re buying something from a seller in the United States, you’ll be able to pay via PayPal.
On the other hand, if you want to buy anything from a Chinese merchant, you should consider using AliPay. That’s because most merchants in China don’t accept PayPal at all.
Can I Transfer Money from PayPal to AliPay?
One PayPal account, there are only two ways you can transfer money. Either you move the money to another PayPal account a credit card.
The best way to transfer money from PayPal to Alipay is using exchange which has a fee attached to it.
You may now ask….
What is the PayPal and AliPay Transfer Exchange Fee?
The exchange fee for transferring money from PayPal to Alipay account is around 3%, which is a cheaper when compared to the service.
If transfering money to AliPay through PayPal, the question is….
How Can I Transfer money from PayPal to Alipay?
Well, there is no direct way of transfering or linking your money to an AliPay account from PayPal account expect you go through the indirect way.
Currently, there are different ways you can indirectly make a transfer which is what we will be discussing right away.
1.Transfer money to AliPay using a PayPal exchanger?
To get started, you’ve to first choose a money transfer exchanger. These exchanger service will help you send money from PayPal to Alipay.
In same vein, you can also make your transfer by following the steps below:
- Go to the order page.
- Type billing name and address of your PayPal account
- Enter the Alipay address for receiving exchanged funds.
- In the amount field, set the exchanged amount you want to receive.
- Check the exchange rate and other fields to avoid any mistake.
- Complete your order by hitting submit.
2. Transfering money from PayPal to AliPay through Bank Card
Alternatively, you can transfer money from PayPal to Alipay following the steps below:
- Transfer your money from your a Paypal account to a bank card.
- Bind this bank card to your Alipay account using your international credit card like Visa, mastercard or JCB.
- Use this bank card to top up the Alipay account or consumption.
3. Money Transfer from PayPal to AliPay Through Vpayfast
You can also transfer money from PayPal to AliPay through Vpayfast. All you have to do is place an order of recharging Alipay on vpayfast, pay with PayPal and the supported domestic currency. And then, it will recharge for you directly, so easy.
The major challenge of this method is that it is very slow and also charges 15% which is higher when compared with other methods.