Alipay teams up with Sina Corp

Wednesday 8 January 2014 08:55 CET | News

Alipay, an affiliate of Alibaba Group and an online payment service in China, has teamed up with Chinese internet company Sina Corp to launch an online payment service.

Under the agreement, the new service will allow users of Sinas Weibo microblog service to make online and offline payments through their Alipay accounts.

Alipay is an independent third-party payment platform and an affiliate of the Alibaba Group. Launched in 2004, Alipay provides an escrow service and partners with more than 170 financial institutions to provide payment solutions for and, as well as more than 460,000 online Chinese merchants. Alipay now supports more than 800 million registered users and processes over 105.8 million transactions daily, totalling a monetary value of over USD 3 billion.

In recent news, Alipay has locked out free payment services for desktop computer users as the company tries to go mobile.

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Keywords: Alipay, Sina Corp, Alibaba Group, online payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce