Alibaba inks deal
By Ding Yining |
July 30, 2010, Friday
|
Print Edition
Print Edition
ALIBABA Group and the Bank of China yesterday signed an agreement to strengthen strategic cooperations in financial services.
The two sides will launch new products for online payments, cross-border transactions and loans for small and medium-sized companies.
They will also work on pilot programs including online installment plans for credit cards and payment platforms on mobile phones.
Alipay, the online payment branch of Alibaba Group, is the country's largest online payment platform with more than 300 million registered users and a daily transaction volume over 1.4 billion yuan (US$206 million).
The two sides will launch new products for online payments, cross-border transactions and loans for small and medium-sized companies.
They will also work on pilot programs including online installment plans for credit cards and payment platforms on mobile phones.
Alipay, the online payment branch of Alibaba Group, is the country's largest online payment platform with more than 300 million registered users and a daily transaction volume over 1.4 billion yuan (US$206 million).
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