No Alipay Act of 2023

HR 5447, the No Alipay Act of 2023, bans all financial transactions involving Alipay (China) Internet Technology Company Limited between Alipay and "United States persons." This directly affects U.S. citizens, permanent residents, U.S.-organized businesses, and anyone physically present in the U.S. who uses Alipay for payments. The bill prohibits any financial activity, including app usage or payment processing, that involves Alipay and a U.S. person. It defines "financial transaction" broadly to cover any movement of funds or use of financial services affecting interstate or foreign commerce. The law would require U.S. persons to cease using Alipay for any transaction.