Under the terms of the deal, Chinese online shopping customers who are interested in purchasing insurance products on AIAs website can now pay via Alipay. Such insurance products include short-term accident insurance and travel insurance.
Alibabas payment platform Alipay provides customers online payment and settlement services. It delivers e-commerce payment technology and risk management system for banks and financial institutions. Alipay, a subsidiary of Chinese B2B e-commerce giant Alibaba.com, currently reports 200 million users.
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