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Alipay Acquires OnCard's China Subsidiary

China.com, 9/05/11

Hangzhou-based third-party payment processor Alipay recently announced that it has finalized its purchase of OnCard International's third-party payment processor subsidiary, OnCard Payments China. OnCard Payments provides online payment services to passengers of several major airlines, including Cathay Pacific, Hong Kong Dragon Airlines and EVA Airways.

With the acquisition, operations for Alipay and OnCard China will now be consolidated, allowing users in mainland China to purchase flight tickets with the above three airlines using the Alipay platform.

Both Alipay and OnCard have yet to reveal further details regarding the merger.

Keywords: OnCard Internet Alipay third-party payment online payment e-commerce e-payment M&A

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The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

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