MasterCard to Partner with Alipay on Overseas Payment

Netease Finance, 3/09/11

David Chen, vice president of Advanced Payment Systems, Product Sales & Delivery for MasterCard Worldwide in Asia-Pacific, recently said that MasterCard was in consultation with Alibaba Group to try and develop third-party online payment platform Alipay's overseas business.

Chen said that Alibaba supports MasterCard online payment services, and the next step was to look for more in-depth cooperation, namely by extending Alipay's reach to overseas markets. Chen added that the framework of this deal allows for domestic users with Alipay accounts to set up virtual MasterCard accounts in order to buy goods overseas.

Keywords: David Chen third-party payment Internet overseas Alipay online payment Alibaba Group e-commerce e-payment

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