Taobao Accounts for Under 50% of Alipay Transactions

Netease Tech, 10/19/12

Eric Jing, CFO of online payment platform and Alibaba Group subsidiary Alipay, recently disclosed that non-Taobao-related transactions account for more than 50% of Alipay's over all business, with TMall accounting for approximately 30% of payments handled. Alipay currently can handle payments via credit cards from 31 domestic banks, and can complete transactions on the same day free of charge for all bank credit cards with the exception of cards issued by Agricultural Bank of China.

As to whether Alipay will cooperate with Alibaba's SME financing subsidiary Alibaba Financial, Alipay CEO Lucy Peng said the two companies operate independent systems and have no plans to cooperate.

According to official Alipay data, the third-party payment platform has over 750 mln registered users and handles over 18 mln daily transactions totaling over RMB 4.5 bln. Alipay has 3,600 employees, including approximately 1,500 technical personnel and 1,000 customer service representatives.

Keywords: Taobao Internet Alipay third-party payment online payment Lucy Peng Eric Jing TMall e-payment transaction volume Alibaba Financial e-commerce

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