China’s Alipay just saw one billion transactions in a day

China’s biggest shopping day last Friday saw not only an all-time high in spending on Alibaba’s online marketplaces but also a record amount transacted by users of its mobile wallet app, Alipay. Using Alipay for a wide range of Chinese shopping sites, apps, and also in-store cashless payments, the Singles Day shopping spree on November 11 saw 1.05 billion transactions go through the app, up 48 percent on the same day last year. Read more: