Sohu IT, 8/31/11
Chinese third-party payment processor Alipay has launched its Secure Transaction Open Plan (open.alipay.com) to provide websites and social networks with an e-commerce infrastructure, including escrow payment, product listings, and automated revenue sharing, free of charge. Participating website administrators can apply for the service online.
The service allows secure transactions between two parties under mutually agreed-upon terms, with Alipay holding payment in escrow until the buyer confirms receipt of goods.
A number of sites, including SNS sites Douban and Mogujie.com, as well as group buy directory site Tuan800, have joined the Open Plan.