Alipay.com, the Internet payment subsidiary of Alibaba Group, confirmed that the company has formally established a new rural business unit, aiming to reach non-e-commerce users in third- and fourth-tier cities as well as in rural areas.
This new business unit at Alipay is expected to provide convenient and rapid payment services to the rural market in China.
Alipay said that the new business unit’s expansion in rural areas is currently divided into two parts: convenient payment popularization and rural financial services cooperation. For convenient payment popularization, Alipay plans to cooperate with banks and telecom site in rural areas to offer various payment application guidance and consulting services to rural users, so as to popularize Internet payment in rural areas. In regards to rural financial service cooperation, Alipay hopes to apply innovative technical methods to help improve financial services in rural areas.
Alipay’s new rural business unit marks the first time for a Chinese third-party payment organization to specially establish a unit to explore the rural Chinese market. According to statistics previously published by Alibaba Group, in 2012, its B2C e-commerce site Tmall.com realized trading value of over CNY1 trillion. Meanwhile, the third- and fourth-tier market saw a growth rate of over 60%, which was much higher than the first- and second-tier market.
Just before the release of Dragon's Dogma 2 in March, franchise creator Hideaki Itsuno expressed…
Curated By :Last Updated:November 12, 2024, 14:16 IST“A new journey on the horizon awaits. Goodbye,…
Reported By :Last Updated:November 12, 2024, 13:49 ISTThe Delhi government has been pushing for artificial…
President-elect Donald Trump has a radically different vision for the United States and he has…
IndiGo paid tribute to Vistara which operated its last flight on Monday, ahead of the…
This is not investment advice. The author has no position in any of the stocks…