Alipay processed $25.3b in GMV on Singles Day

Retail Tech Innovation editors
14 Nov 2017

This year's Singles' Day shopping event on Saturday netted Alibaba Group about 168.2 billion yuan ($25.3 billion) in gross merchandise volume (GMV) mainly settled through Alipay, the company has revealed.

GMV increased by 39% compared to 2016. Mobile GMV settled through Alipay accounted for 90% of total GMV, up from 82% last year.

“More than $25 billion of GMV in one day is not just a sales figure,” said Daniel Zhang, chief executive officer of Alibaba Group. “It represents the aspiration for quality consumption of the Chinese consumer, and it reflects how merchants and consumers alike have now fully embraced the integration of online and offline retail.”

Alipay processed 1.48 billion total payment transactions, up 41% from 2016, and processed 256,000 transactions per second at peak. With more than 140,000 participating brands, 60,000 of which are international, and merchants, Alibaba Cloud processed 325,000 orders per second at peak. The Cainiao Network processed 812 million total delivery orders.

First published in Retail Tech Innovation

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