Business

China's Alipay Reaches Deal With Australian Bank

Chinese third-party payment platform Alipay has signed a memorandum of cooperation with Commonwealth Bank of Australia, which is Alipay's first bank partner in Australia.

Headquartered in Sydney, Commonwealth Bank of Australia is the largest commercial bank in Australia.

With the signing of the agreement, Alipay and Commonwealth Bank of Australia will use their respective technology and platforms to provide convenient services to consumers in China and Australia. Chinese tourists and students will be able to buy things with Alipay in Australia; while Australian consumers will be able to use Alipay to purchase on shopping websites under the Alibaba Group. Alibaba owns websites like Tmall.com, Taobao.com, and Alibaba.com.

Commenting on the cooperation, Kelly Bayer Rosmarin, head of enterprise business and market unit of Commonwealth Bank of Australia, said they are glad that Commonwealth Bank of Australia becomes Alipay's first bank partner in Australia. They believe the cooperation with this global mobile payment service provider, who has over 450 million active users, will have broad prospects.

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