AliPay extends its online payment partnership with ICBC banking group

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AliPay extends its online payment partnership with ICBC banking group

05-25-2006, 09:25 AM,

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mandy Offline

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AliPay extends its online payment partnership with ICBC banking group

A related article: AliPay has extended an existing partnership with The Industrial and Commercial Bank of China (ICBC)

Quote:The Industrial and Commercial Bank of China (ICBC) and Alibaba Group teamed up yesterday to further promote the development of e-commerce and e-banking...

From January to April, Alipay, or Zhifubao, a third-party online payment company under the Alibaba Group, dealt 6.29 million transactions with a total trading value of 1.12 billion yuan (US$140 million).

The transactions in the four months almost equalled the total transactions in 2005, indicating rapid growth in online business, said Ma.

Alipay now has over 17 million clients, with a daily trading volume exceeding 30 million yuan (US$3.75 million)....

full article: http://news.xinhuanet.com/english/2006-0...593328.htm

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