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Alipay Enters China's Telecommunications Payment Sector
August 19, 2008 |
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| Category: Telecom & Wireless
Alibaba's Zhejiang Alipay Internet Technology Ltd has signed a cooperative agreement with China Netcom Xuzhou branch to jointly develop services in the online payment sector.
According to the agreement, China Netcom's users in Xuzhou will be able to pay the charges to China Netcom via the platform of Alipay. The cooperation between Alipay and China Netcom Xuzhou branch will become an experimental field for the opening of e-payment system in Jiangsu's telecommunications industry.
A representative from China Netcom Xuzhou branch says that for users, Alipay offers a more convenient and rapid payment platform and for China Netcom, it provides more functions, including instant receiving and cash withdrawing, which are convenient for financial management. The company will continue to perfect its payment platform and to cultivate users' payment habits, so as to increase the use of Alipay's online payment services.
With the growth of the B2B, B2C and C2C industries, online payment has become an indispensable payment channel for the online consumer groups.
Neither company has revealed specific profit share or compensation aspects of this new relationship.
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