Alibaba Partners with Weibo to Launch New Payment Service

Posted by Joachim Bartels | Jan 10, 2014 | Alibaba, Alipay, China, E-Commerce, Payment Services, Uncategorized, Weibo | 0 |

Alipay, China’s leading e-payment company and an affiliate of the Alibaba Group, has partnered with Chinese microblogging platform, Sina Weibo, to launch a new payment platform called Weibo Payment. The new payment service is accessible through mobile app and website enabling Weibo users to make online and offline payments.

According to Alipay, there are currently more than 400,000 retailers promoting products via their own Weibo accounts. In April 2013, the Alibaba Group paid US$586 million for an 18% stake in Weibo. The company subsequently launched a service allowing Taobao users, Alibaba’s consumer-focused e-commerce arm, to link their accounts with those of Weibo.

Source: Business Strategies Group Hong Kong – www.bsgasia.com

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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