Launched in 2004 by Alibaba Group and now a part of Ant Group, Alipay originated as an online payment escrow service for the e-commerce site Taobao. It has since evolved into a super-app, integrating mobile payments, wealth management, insurance, credit services, and various local life services like food delivery and ride-hailing. Its core mission is to provide inclusive, green, and sustainable digital financial services to consumers and small to micro-sized enterprises, primarily through its QR code-based payment system which has become ubiquitous in China and is expanding globally.