Chinese Online Payment Service Giant Builds up Muscles
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[November 14, 2008]

Chinese Online Payment Service Giant Builds up Muscles

BEIJING, Nov 14, 2008 (SinoCast via COMTEX) --
China's largest online payment service company Alipay.com Co., Ltd. clinches a strategic partnership with Beijing Lakala Billing Services Co., Ltd., a Beijing-headquartered e-billing service provider, both sides announced at a news conference on November 12.



They cooperate to promote online payment service for shopping, a big move to further the growth of e-commerce in Chinese customers, industry insiders said. Online payment service is expected to extend to over-the-counter payment service.

Lakala.com, the Web site of Lakala Billing Services, has set up a nationwide convenient payment service network covering 15 Chinese cities, with 15,000 outlets focused on convenience stores, supermarkets, and drug stores around office buildings and residential communities, by October 2008.



Alipay.com has so far had a user base of more than 100 million, with a daily trade value of over CNY 450 million and over 2 million online deals a day.

From www.shihua.com.cn, Page 1, Thursday, November 13, 2008
info@SinoCast.Com

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