Rumor: Alipay Develops "Virtual Wallet" Mobile Payment App
36Kr, 11/30/12
Reliable sources reported recently that Chinese third-party payment processor Alipay is at work on a mobile payment application, known internally as "Kabao," which it plans to release for small-scale public beta testing in mid-December. Unlike Alipay's existing mobile client, "Kabao" reportedly resembles a virtual wallet, allowing users to store multiple bank card accounts and even photographs.
At launch, sources say, the application presents users with a personal account and coupon management interface, as opposed to the long list of services that fills the screen on Alipay's current mobile app. Users can examine the personal account section for easy overviews of their balance history and expenditures, while the coupon management interface allows users to manage and discover electronic discount coupons.
Alipay declined to comment on the rumor, but some Alipay users claim to have received invitations to the closed beta test for the new client software.
Keywords: mobile wallet Kabao wireless Alipay mobile payment client software third-party payment mobile application
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