Press release
Alipay and iPay88 Form Strategic Partnership in E-Payment
KUALA LUMPUR, Malaysia, August 25, 2010 – iPay88, Malaysia’s one-stop online payment service and Alipay, China’s leading online payment service, have formed a strategic partnership allowing iPay88 merchants to use Alipay's platform when doing business in China.Under this agreement, Alipay will be able to provide its users with the ability to purchase goods from more than 2,000 Malaysian merchants who use iPay88, and iPay88 merchants will have access to Alipay’s more than 300 million registered users in China.
Alipay and iPay88 expect the strategic partnership will foster trade between China and Malaysia and allow Malaysian merchants to enter the booming Chinese market.
About iPay88
iPay88 is the leading one-stop online payment service provider in Malaysia and is compliant with the Malaysia Payment System Act. iPay88 allows online merchants to collect payment online securely from their buyers using Visa and MasterCard cards, local bank Direct Debit services (Online Banking) and local e-wallets. There are more than 2,000 local and international online stores, using iPay88 to process online transactions in Malaysia Ringgit (MYR) and over 10 major foreign currencies.iPay88 is headquartered in Kuala Lumpur, Malaysia and with a branch in Jakarta, Indonesia and is expanding its services in the South East Asian region. More information about the company can be found at www.ipay88.com.
About Alipay
Alipay is China's leading online payment solution, enabling individuals and businesses to execute payments online in an easy, safe and secure manner. Alipay had a registered user base of over 300 million as of March 2010. Alipay partners with banks to provide an escrow service for payments, which reduces the settlement risks faced by Alipay's customers in their e-commerce transactions. Alipay, headquartered in Hangzhou, was founded by Alibaba Group in 2004.
-iPay88 Sdn Bhd
-63 & 65, Jalan Jejaka 7, Taman Maluri, Cheras, 55100 Kuala Lumpur, Malaysia.
-Terry Yee (ksyee@ipay88.com.my)
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