China Telecom's Beijing branch has published a report, stating that it will open a mobile phone payment function for its eSurfing 3G users.

Alipay.com, the Internet payment subsidiary of the Chinese e-commerce group Alibaba, has announced that it has launched a new convenient Internet payment service.

China UnionPay and American Express announced that they have signed a memorandum of understanding that calls for both companies to explore the expansion of their current cooperative activities.

Rumors on the Internet revealed that the Chinese B2B e-commerce group Alibaba has set up a commercial bank subsidiary, which has gained the approvals of the People's Bank of China and China Banking Regulatory Commission.

Chinese third-party Internet payment platform Alipay.com has inked a cooperation deal with the international credit card organization MasterCard, to officially launch payment services with MasterCard in Hong Kong, Macau, and Taiwan.

Chinese B2B e-commerce company Alibaba.com has announced that its new online wholesale website, 1688.com, was formally launched on March 9, 2010, and the wholesale traffic reached a whopping 6.39 million people on the first day.

According to South Metropolitan Daily newspaper, the personal data of more than 1000 employees of IBM Shenzhen has been disclosed and used to apply for credit cards.

Alipay, the Internet payment subsidiary of the Chinese e-commerce group Alibaba, has announced that it will lift the limit on large credit card payments.

According to Taiwan's financial regulatory department, 368 stores in Taiwan have installed UnionPay's devices to accept payments with bank cards and credit cards from mainland Chinese consumers.

Industrial and Commercial Bank of China has announced that with the cooperation with all the three major Chinese telecom operators, China Mobile, China Telecom, and China Unicom, it has formally launched its 3G mobile phone bank services.

The China Banking Regulatory Commission has issued a circular which asks Chinese banks not to provide credit card services to students under 18 years old.

China United Airlines has inked a strategic cooperation pact with and AliPay, the online payment provider subsidiary of Chinese e-commerce behemoth Alibaba.

According to Qiu Changheng, vice president of Alipay, China's first e-commerce credit system is expected to be launched by the end of 2009 and the system will fully cover small and medium-sized enterprises and individual users.

China UnionPay, the top domestic credit card organization in China, is now accused of facilitating illegal cash advances.

China Mobile is continuing to insist on managing the online sales for Apple's iPhone apps in China, so its negotiation with Apple about introducing the iPhone into China has now stalled.