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Since its launch in 2004, AliPay has become the most popular and extensively used online payment tool for all areas of e-commerce in China, and is fast becoming the industry standard. As of 28 Aug 2008, AliPay had more than 100 million users and a daily transaction volume exceeding RMB450 million, through more than 2,000,000 daily transactions.

AliPay continues to extend is leadership in online payments to merchants outside of the Alibaba and Taobao marketplaces, with more than 460,000 external merchants using AliPay as their preferred online payment platform, including leading local brands Lenovo, CCTV, Aigo, and New Oriental.

AliPay’s products and services are built on trust. Not only does AliPay guarantee the safety of each online transaction, it helps Internet users create their own trust profile which fosters a safe online payment environment.

To provide AliPay, Alibaba has partnered with all the leading banks in China, including Bank of China, China Construction Bank, Agricultural Bank of China, and the Industrial and Commercial Bank of China, as well as visa and other financial institutions. AliPay has received the endorsement of traditional banks and financial institutions because of its advanced e-commerce payment technology and sophisticated risk management system. AliPay wants to be the e-commerce payment partner of choice for financial institutions.