Hangzhou, 1st November: According to a report on Penn-Olson, Alibaba Group’s online payment platform, Alipay, will launch a new service to process international payment later this month. The new service will be named Alipay Express, and will partner with a “major recognised brand of bank” that will also be involved with the new launch.
Alipay Express is reportedly based closely on the company’s Chinese Alipay ‘Quickpay’ service, a new branch of Alibaba’s payment platform launched at the end of last year. The service ties a user’s credit card to their Alipay account, which is backed by 100 Chinese banks. Alipay’s Quickpay is currently available on most websites that accept online payment in China.
Source: Business Strategies Group www.bgsasia.com