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Alibaba to release credit payment service for e-commerce platforms

Friday 1 March 2013 10:29 CET | News

Alifinance, a unit of e-commerce platform Alibaba Group, has revealed plans to release a credit-line service for businesses and consumers on its e-commerce platforms, online media outlet Yahoo! News unveils.

According to the source, the credit will be provided via Chinese third-party online payment platform Alipay. A pilot version of the program, which will be first available for users of Taobao Marketplace and Taobao Mall on mobile devices, will be rolled out in certain parts of China.

Technology research firm Analysys indicates that Taobao Marketplace and Taobao Mall have had a majority of market share in Chinas consumer-to-consumer market and business-to-consumer platform.
 


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Keywords: Alipay, e-commerce, online payments, China, credit payments
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce