Learn How to Protect Yourself from Money Scams in China

The same way you can cancel money transfers that have been made via an ATM machine within 24 hours, Alipay now allows its users to cancel a transfer and get their money back within 24 hours of the transfer time.

Recently, the payment branch of Alibaba added new features to its latest update which can non only help identify fraudulent accounts, but can also return any transfer that has been made by mistake within 24 hours of the time the user initiated the transfer. Tencent’s WeChat Wallet, the only and only competitor of Alipay, already has such a feature in its arsenal to help protect users.

Alipay’s new system also optimizes its anti-fraud mechanism by integrating it with law enforcement databases. For users who suspect that a transfer may be fraudulent, they can choose to delay the payment and report the account which would automatically freeze the transfer. The money will then be credited back to the user’s account if authorities determine that fraud has been committed.

Alipay can also flag a transfer that is deemed risky based on the recipient’s transaction history and other behaviors, and notify users to delay the transfer.

Here are a few easy steps to help you delay a transfer on Alipay.

Step1: Click 'Transfer'.

Step 2: Click '...'

Step 3: Click'Defer Arrival'.

Step 4: Choose arrival time, '2hours' or '24 hours'.

Step 5: Input the email or phone number associated with your account.

Source: 北京晚报, CGTN

Supervisor: Crystal Huang

Editor: SC

Co-Editor: Ed Bellin

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