China's Apple Pay competitor is about to hit the U.S.

Look out, Apple Pay: Alipay, one of China's biggest mobile payment services, is coming to the United States.

The payment platform, which is an extension of Ant Financial and Jack Ma's Alibaba ecommerce empire, will enter the U.S. market as part of an agreement with retail payment processor First Data. Alipay will soon be available at First Data's four million domestic business clients, starting with the company's Clover POS platforms.   

The U.S. expansion follows Alipay's growth into other international markets, as the platform hit Europe last year and acquired its way into Southeast Asia last month. The service boasts over 450 million users worldwide — but this is its first entry into North American markets.       Read more...