Alibaba Trade Assurance vs PayPal – Difference and Comparison

What is Alibaba Trade Assurance?

Alibaba Trade Assurance in digital payment or money transaction method which is available exclusively on Alibaba platforms like its shopping sites and apps. The user has to tap on the Alibaba secure payment option (which is often present at the time of check-in of products) to use Alibaba Trade Assurance.

Alibaba Trade Assurance provides multiple money processing methods ( like apple pay, PayPal, credit cards, wire) for convenience. The process of choosing the payment option is easy and safe. The user has to just select the preferred method at the time of the transaction. It also makes money transfer through digital wallets instant.

Alibaba Trade Assurance uses the latest technology to secure payments to make sure it reaches the supplier safely in time. The Alibaba Trade Assurance also developed a transaction center to help check or monitor the track of funds and reconcile flow.

Alibaba Trade Assurance provides extended support of 30 days after delivery, if a shopper is not satisfied with the product quality, the person may request for refund. The Alibaba Trade Assurance will help investigate, mediate, and resolve the claim, plus reimburse when appropriate. The online order and communication records are the basis of refund resolution.

What is PayPal?

Alibaba Trade Assurance provides extended support of 30 days after delivery, if a shopper is not satisfied with the product quality, the person may request for refund. The Alibaba Trade Assurance will help investigate, mediate, and resolve the claim, plus reimburse when appropriate. The online order and communication records are the basis of refund resolution. 

PayPal is a multinational financial payment system is created in America by Elon Musk. It helps in money transfer digitally across multiple platforms easily. Serving as an alternative to traditional paper money or internet banking practices.

PayPal act as a transaction medium between vendor and consumers. Making money transfers instant and payments easier. For which it charges a service or processing fee, a major source of revenue. It originated as a security system developed by Peter Theil and team but after the merger with x.com of Elon Musk, it slowly turned into a complete digital wallet application over time.

PayPal also provides an integrated payment gateway facility for online stores and auction sites. PayPal also helps to make international purchases or money transactions by simple currency conversion feature which allows converting currency fast (example- Rupee to the dollar) and transfer of funds fast internationally.

PayPal account can be funded directly by electronic debit from a bank account or debit card or credit card. One can set up a PayPal wallet to receive or request money from someone. Profile-specific QR codes can also be used to receive or either scan to make payments.

Difference Between Alibaba Trade Assurance and PayPal

  1. Alibaba Trade Assurance is used for buying or selling wholesale goods worldwide whereas individuals mostly implement PayPal for financial transactions
  2. Alibaba Trade Assurance is a part of Chinese E-commerce company Alibaba group whereas PayPal is an American company founded by Elon Musk
  3. Alibaba Trade Assurance was founded around 1999 whereas PayPal was founded in the year 1998.
  4. Alibaba Trade Assurance has the policy to be used only with whole transactions on its E-commerce site whereas PayPal can be used for any financial transaction.
  5. Alibaba Trade Assurance also promises the quality of your wholesale products whereas PayPal does not give such guarantees.

Comparison Between Alibaba Trade Assurance and PayPal

Parameters of ComparisonAlibaba Trade AssurancePayPal
DefinitionAlibaba Trade Assurance is a wholesale transactional mediumPaypal is an individual digital transactional medium
RegulationsThe platform is only used for transactions across the Alibaba siteThe platform is used for various financial interexchanges
Year Alibaba Trade Assurance came into existence in 1999.PayPal came into existence in the year 1998.
FunctionAlibaba Trade Assurance is used for buying or selling goods in a large stockPayPal is used to make the transfer of money and financial currency dollar
Parent companyAlibaba Trade Assurance is a part of the Alibaba groupPayPal started as an individual platform

References

  1. https://www.koreascience.or.kr/article/JAKO201918053178378.page?escaped_fragment=
  2. https://ieeexplore.ieee.org/abstract/document/6382541/