international payment platform Alipay is an online payment platform established inChina in 2004. In the United Kingdom, Alipay operates via Alipay (UK) Limited (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. Alipay (UK) is focused on international payment platform. The company offers online payment processing, in-store payment processing to merchants. In 2022 Alipay (UK) Limited had total assets of 472.18 mln GBP, and generated net income of 23.17 mln GBP. During 2022 the company had 98 employees in average.
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, Alipay (UK) Limited is assigned the overall rating 2.31 (poor) which is explained in details below.
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Narrow | (1.54) |
| Market Niche | Narrow | (2.48) |
| Company Background | Strong | (3.91) |
| Customer Support | Poor | (1.92) |
| Customer Sentiment | n/a | |
| Transparency | Low | (1.85) |
| Overall Rating | Poor | (2.31) |
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TheBanks.eu has also identified the following pros and cons of the company:
Alipay (UK) is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
Alipay (UK) Limited is not registered with the FCA as a crypro asset firm.
Alipay (UK) do not offer crypto assets services.
| GBP | 2021 | 2022 | change (%) |
|---|---|---|---|
| Total Assets | 243,783,876.00 | 472,184,843.00 | +93.69% |
| Revenue | 295,030,373.00 | 371,215,011.00 | +25.82% |
| Gross Profit | 65,252,767.00 | 65,962,246.00 | +1.09% |
| Net Income | 16,561,359.00 | 23,172,654.00 | +39.92% |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 12 (-3) |  Skrill Limited | 1.46 % | 533.63 mln EUR (-27.87%) |
| 13 (+6) | Alipay (UK) Limited | 1.46 % | 472.18 mln GBP (+93.69%) |
| 14 (+1) |  Checkout Ltd | 1.45 % | 566.57 mln USD (+23.19%) |
United KingdomAlipay (UK) Limited is authorized by the Financial Conduct Authority as a e-money institution (reference number 927634) for issuance of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance; the authorization was granted on 15 February 2021.
Alipay (UK) Limited is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, Alipay (UK) is required to safeguard its customers’ money.
Since January 2021, Alipay (UK) Limited can not conduct its activities in EEA member states. Alipay (UK) Limited keeps providing its services to EEA-based customers via Alipay (Europe) Limited S.A. (Luxembourg).
3rd Floor, Davidson Building, 5 Southampton Street, WC2E 7HA, London, United Kingdom
+44 2073958310English
United Kingdom
United Kingdom
Luxembourg
United Kingdom
United Kingdom
United Kingdom
