The international shopping website Gilt announced that the company formally introduced Alipay as a new payment channel.

This makes Gilt the latest overseas shopping website partner of Alipay following recent additions iHerb, My Bag, and Rakuten.

Founded in 2007 and headquartered in the U.S., Gilt provides instant insider access to top designer labels. Its products cover apparel, jewelry, home supplies and travel products and its services have been expanded from America to over 100 countries and regions around the world. Gilt currently provides Chinese-language customer services and by cooperating with Alipay the company hopes to further penetrate the Chinese market.

According to Marshall Porter, Gilt.com senior vice president and Gilt international business general manager, with the cooperation of the two parties, Gilt users will be able to complete payment via their Alipay accounts.

At present, China's Alipay provides cross-border payment services to 2,000 international vendors in over 40 countries and regions across the world, supporting settlement of 14 different currencies. When Alipay users purchase products from overseas websites, Alipay's system will automatically exchange the product prices into Renminbi and users can directly pay with their own currency.

Li Jingming, general manager and chief architect of Alipay America, said that by 2020, China's e-commerce market scale will reach USD650 billion.