Jack Ma, Alipay, and Movend

Just few days ago I posted about Jack Ma. Here’s a 1 hour video clip that I think anyone who is interested in the Chinese Market and the future growth of Alibaba + taobao should watch.

Biggest takeaway:

  1. “Taobao does not belong to China. It comes from China but belongs to the whole world. Taobao belongs to this generation.”
  2. “If you never try, how you know there are no chance?”
  3. “If you know tough days are coming, be prepared for it. Don scream”
  4. “We want the whole piece of Yahoo”

Now, if you understand the message clearly, Jack Ma, believes that the future of e-commerce and internet startup belongs to China.

“We are still young. We have time.”

As mentioned in the interview: “America took 200 years to come to where they are right now. China (after the Mao Tze Dong revolution) took 10-20 years to come to where we are now. We have more users than paypal and our online transaction is the biggest in terms of daily transaction”. And the fact that Jack mentioned that Taobao belongs to this generation, means they definitely have plans to make Taobao available to the whole world. What is stopping him right now is the payment system. If you can count on someone to solve that problem, the problem of integrating the international payment system through Alipay, that person is Jack Ma. He will make it happen.

So I was telling one of my friend about the video, and that if one is forward looking, one should build a local taobao/ebay sort of platform and when taobao comes over to Singapore (doubt so since Singapore its too small), there is a chance that Alibaba group will acquire you. Or, you can build a online payment system that integrates Alipay, and Alipay will definitely acquire you, since they definitely have plans for international expansion. So yeap, a website that aggregates all the blogshops in Singapore that are scattered around Singapore(localized taobao), or a local B2B platform(localized Alibaba) or a third party payment platform that makes online transaction easier and more secured (localized Alipay), there is a high chance that you will be marked by Alibaba Group.

And one such Singapore based platform is Movend. Quote from a post from Penn Olson, ” MoVend is an in-app mobile payment platform for Android, BlackBerry, and Windows 7 phones. It allows in-app payments using MOLPoints, Paypal, and telco phone billing systems across 25 countries. Today we learned that MoVend has added two more payment options: Alipay and Cherry Credits.”

Photo from Penn Olson

Movend is quite smart to integrate Alipay and obviously the reason for that is to breach into the China Android market (which is the number 1 mobile OS in China). With the growing number of smart phone users and in mobile purchases, there is definitely a lot of potential for Movend. Even Singtel Innov8 wants a piece of Movend. Personally, I think that there is a very high chance that Movend will be acquired by Alibaba should Alibaba group decide to expand to the South East Asia region. I won’t be surprised if Alipay decides to roll out its English version in the next one year or 2.