Chinese online third-party payment platform Alipay.com Co., Ltd. Is exploring opportunities for globalization from the partnership between its parent company Alibaba Group and Bank of China.MorningPost.com report that the Alibaba and the bank agreed to cooperate in e-payment and international business expansion and jointly boost small and midsize companies’ online financing and marketing.

Supported by Bank of China, Alipay plans to facilitate foreign consumers’ shopping on China-based e-commerce websites from the third quarter of 2009, according to Alipay President Shao Xiaofeng.

Paying their own countries’ currencies, foreigners will be able to fetch Chinese-yuan-denominated commodities.

Alibaba has more than 1 million small and midsize corporate members in India, and many of them hope to purchase Chinese-yuan-denominated products with Indian Rupee, said the president Jack Ma.

Related posts:

1. Alipay overtakes PayPal as the world’s biggest third-party online payment platform – 200 million users Alipay overtakes PayPal as the world's biggest third-party online payment...
2. Alipay overtakes PayPal as the world's biggest third-party online payment platform – 200 million users Alipay overtakes PayPal as the world's biggest third-party online payment...
3. Alipay select Trustwave to provide Payment Card Industry Data Security Standard compliance validation services Alipay, the leading Chinese payment platform, has enrolled in Trustwave's...
4. What Amazon Can Learn from Taobao, the Largest Chinese Ecommerce Portal Taobao.com is the 11th most successful website in the world....
5. Indian e-payment market worth $150 Billion Swati Prasad reports in BusinessWeek that India’s retail e-payment market...