Alipay is acquiring a bank?
Posted by Zhang on April 10th, 2010There’s always big news about Alibaba and its subsidiaries, today is about Alipay.
Gossip from Twitter said that, Alipay is going to acquire a bank. Considering another news about Alibaba’s financing 100 Million via PricewaterhouseCoopers, the news about Alipay is worthy of belief.
Here goes the reason: The bank regulators in China, is launching a new platform for cross-bank transactions. And those 3rd party payment companies such as Alipay, TenPay, BaiduPay, etc, may not able to take advantage of this platform. Once Alipay acquried a bank, it can easily plugged onto the new platform.
However, It’s just a gossip.
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