HSBC and Citi will help Alibaba to expand Alipay online payment services

Chinese ecommerce giant Alibaba.com Ltd. announced its plans to partner with HSBC Holdings plc and Citibank A.S. in expanding its online payment service Alipay on an international level, says the B2Bmarket blog.

"The company will allow account holders of the two global lenders to pay and transfer funds online via Alipay platform. It is also reported earlier that the Hangzhou-based company plans to cooperate with MasterCard Incorporated and Visa Inc to launch an internationalized Alipay settlement platform."

Alipay is an online payment services provider. Founded by the Alibaba group, it allows individuals and businesses to execute payments online in a secure manner. Alipay’s users are primarily buyers and sellers engaging in e-commerce transactions.