Alipay, the mobile and online payments service operated by Ant Group, is the most trusted brand in mainland China, according to a survey published on Wednesday by US-based global decision intelligence company Morning Consult, reports the South China Morning Post.
More than half, or 53%, of consumers surveyed in China said they use Alipay daily, according to Morning Consult. The survey found that the proportion of Alipay users is larger among young people, 55% of millennials and 61% of Gen Z consumers.
The Alipay app, which has about 1.2 billion users globally, is one of the most widely used digital wallets in China. Alipay and rival payments service WeChat Pay, operated by Tencent Holdings, have a combined market share of more than 90% in the world’s second-largest economy, where the impetus has been to establish a cashless society.