Reference documentation

1. “Express Payment Service Agreement” June 8, 2022
2. Agent Purchase Foreign Exchange Settlement Service Agreement Version 20220519
3. Alipay Service Agreement Version 20220130
4. Alipay agreement announcement https://antlegal.alipay.com/serviceHall/agreement-list
5. User Service Agreement Version 20211222 (can only be downloaded after the app is bound to a wild card)

Interpretation Featured

1. It may be frozen if not used for half a year

“If you have no transaction record within 6 months from the date of opening an Alipay account, we have the right to suspend the provision of Alipay services to you before re-verifying your identity.”

2. Authentication trigger threshold (sensitivity)

• You recharge, receive or pay a single amount of RMB 10,000 or more or a foreign currency equivalent of USD 1,000 or more;
• The total amount of recharge, receipt and payment under all Alipay accounts under your name within 30 days is RMB 50,000 and above or USD 10,000 or above in foreign currency equivalent;
• The balance of all Alipay accounts under your name is RMB 5,000 or more for 10 consecutive days or the equivalent of USD 1,000 or more in foreign currency;
• you use our services to buy or sell financial products or services;
• You purchase an Alipay registered prepaid card or recharge the registered prepaid card;
• You purchase a bearer prepaid card of RMB 10,000 or more at one time, or recharge your Alipay account accumulatively of RMB 10,000 or more through a bearer prepaid card;
• You request to change your identity information or your identity information has expired;
• Your transaction behavior or transaction situation is abnormal;
• There are doubts about your identity information or related materials;
• There are other circumstances in which your identity document or other necessary documents should be checked or retained.

simply put,

• A single transaction of RMB 10,000 (or USD 1,000 in foreign currency)
• Monthly turnover (including incoming and outgoing payments) of RMB 50,000 (or USD 10,000 in foreign currency)
• The balance exceeds RMB 5,000 (or USD 1,000 in foreign currency) within 10 days
• Those who buy and sell “financial” products (such as wealth management products)

3. Alipay does not undertake or guarantee the legal responsibility between the user and the bank during foreign currency transactions . In short, the customer directly purchases foreign exchange with the bank, and Alipay does not protect this.

“You click to confirm the purchase on the payment page of Alipay website or use this service to purchase goods or services from a merchant that supports this service, you will directly form a foreign exchange purchase agreement with our cooperative bank, and the corresponding rights and obligations will be between you and our cooperative bank. Performance and commitment, we do not provide any form of guarantee or assume other legal responsibilities related to it.”

4. During foreign currency transactions, Alipay will provide identity information and transaction information to cooperative banks.

“We will collect (or obtain from a third party) and retain your identity information (such as name, photocopy of ID card), and synchronize your identity information, transaction information, and details of foreign exchange purchases and settlements to A cooperative bank that handles foreign exchange-related business or an agency that must obtain the above information in order to provide you with foreign exchange purchase and settlement services.”

5. Before paying by foreign card, you need to provide identity information (passport, etc.) and card information (security code, etc.)

“When you use this service, you need to submit or confirm the necessary information for using the service according to the prompts on the page (for example: your name, bank card number, card number validity period, security code, billing address, the specific information fields are subject to the prompts on the page, hereinafter referred to as “Service activation information”). The information you submit or confirm needs to be submitted to the corresponding international card organization for verification. After the verification is passed, the service will be activated for you. At the same time, based on the needs of the service, before you pay with a bank card for the first time, you need to You need to submit your passport or Hong Kong, Macao and Taiwan travel documents to and from the Mainland (mainland) and other information according to the prompts on the page.”

6. In the foreign card payment agreement, to use this service, you must be a resident of Hong Kong, Macau Special Administrative Region, Taiwan, or hold a non-Chinese passport.

This agreement is intercepted from the cooperation agreement of Alipay’s foreign card registered with Chinese ID card, but the agreement says that it is invalid only for mainland Chinese residents. I don’t know what it means.

7. The security code may still be required after opening, but it will not be stored (it feels like the threshold is about 100CNY)

After the service is activated (that is, after the information you provide has been verified), in principle, you do not need to submit the service activation information repeatedly. However, in order to ensure the security of your account and funds, you may need to provide your security code for security verification when making consumption payments. For details, please refer to the page prompts. We promise that the security code you provide is only used for service activation or consumption payment verification, and we will not store your security code. The International Card Organization will provide services to you in accordance with the transaction instructions and business rules you issue through the service.

8. The information of foreign card payment still exists on the server in mainland China

“In order to ensure the stability and real-time nature of the service, we may transmit information through international dedicated lines, but we will not retain your information on overseas servers.”

9. The payment by the foreign card clearly requires that the card is my own card and I use it myself.

“You should ensure that the information and materials filled in and provided under this service are legal, complete, accurate and true. If the information you fill in is incorrect, untrue or incomplete, you shall be responsible for the inability to activate the service or other losses caused to you. .You need to ensure that the information you submit is owned by you, you are the bank card holder using this service and only use this service on your own behalf. In order to safeguard the legitimate rights and interests of cardholders, prevent fraud, fraud and other security risks , we need to collect necessary risk control indicator information from domestic or overseas third-party institutions to complete the necessary security risk control verification. For those who fail the verification, we have the right not to provide you with this service or to suspend or terminate the service to you .If your use of this service is claimed by others or infringes the rights of others, you shall bear the corresponding responsibilities according to the law, and you shall also be liable for compensation according to the law if losses are caused to us and the relevant rights holders. At the same time, we have the right to suspend or terminate the payment to you Provide services.”

10. The foreign card payment clearly indicates that the account is in RMB

“When you use this service to pay for consumption at domestic merchants, the local currency payment of your bank card will be settled into RMB payment through the card issuing bank, international card organization, and cooperative institution for payment to domestic merchants. The consumption amount of your bank card in local currency shall be in your The bill of the card-issuing bank shall prevail. We remind you that any exchange loss incurred by using this service shall be borne by you.”

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