Alibaba’s Payment Services Affiliate Alipay Opens An Office In Australia

▤ Summary

Earlier today, Ant Financial, the Alibaba Group affiliate that operates Alipay, China’s largest online payment platform, said that it had taken a minority stake in mobile security technology startup V-Key to beef up the safety of its products as it prepares to expand overseas. Just a few hours later, Alipay announced that it has opened an office in Sydney, Australia to help promote Australian products to Chinese consumers. Alipay already has presence in other countries including South Korea, Singapore, London, Luxembourg, U.S. and Hong Kong, but its Sydney office is notable because of China and Australia’s economic importance to each other. For example, this includes a page on Alibaba Group’s Taobao, the largest consumer-to-consumer marketplace in China, dedicated to promoting Australian food products. Alipay also recently helped Australia’s national post service set up a store on Tmall, its online business-to-consumer marketplace, to sell wine, organic maternity wear, and skincare products.

▦ Linked Companies

V-Key Solutions

$10M to $25M