Alibaba’s Payment Affiliate Goes Global

Now they will focus on areas where they already have a presence, such as Brazil and Spain, as well as rural China, where Alipay hopes to reach 100 million users in as soon as two years.

Library Logos Alibababh Large 5447c2a479d21

The payment-processing affiliate of Alibaba Group Holding is expanding in the U.S. and Russia as billionaire founder Jack Ma pushes the Chinese e-commerce giant beyond its home market, according to The Straight Times, based in Singapore.

Zhejiang Ant Small & Micro Financial Services Group is reorganizing itself into six business units, including the PayPal-like Alipay, as it aims to process the digital sales of more small businesses around the world, company officials said at a conference in Beijing recently.

The units are focused on areas where they already have a presence, such as Brazil and Spain, as well as rural China, where Alipay hopes to reach 100 million users in as soon as two years.

To read more, click HERE.

Latest