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AliPay Is World's Biggest Third-party Online Payment Service

Posted on: Tue, 07 Jul 2009 08:16:00 EDT

Symbols: EBAY, PYPL

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BEIJING, Jul 07, 2009 (SinoCast Daily Business Beat via COMTEX) --
PYPL | Quote | Chart | News | PowerRating -- Alipay.com Co., Ltd. (AliPay) has a user base of more than 200 million for the first time, the Chinese online payment service leader announced on July 7.

It means that AliPay becomes the world's largest third-party online payment platform, surpassing PayPal Inc., a subsidiary of the US online auctioneer eBay Inc. (Nasdaq: EBAY | Quote | Chart | News | PowerRating).

AliPay took approximately five years to let its user base increase to 100 million at the end of August 2008 for the first time as of its birth in October 2003. Later, its user base grows to over 200 million within ten months from previously 100 million.

AliPay's boom is closely relating to the prosperous Internet economy and huge Internet users in China, analysts said.

By May 2009, China had had an Internet user base of 320 million, according to a data report by the China Internet Network Information Center. AliPay users accounted for 62.5% of the base, in other words, six out of every ten Chinese Internet users were AliPay users.

Source: www.163.com (July 07, 2009)

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