Alipay will get over $700 mln investment from Alibaba

As it became known, Alibaba Group plans to invest a total of RMB5 billion (that equals $732 million) over the next five years to China’s largest online payment network Alipay.

According to Alipay statement, the new investment flow-in will be used to enhance infrastructure security; develop products to improve ease of use and convenience for customers; continue to grow a massive number of consumer accounts; build a comprehensive network of merchants; and retain and attract top-tier talent from the payments industry.

As Lucy Peng, CEO of Alipay & CPO of Alibaba Group consider, this investment will help company to continue playing a fundamental role in the ongoing development of e-commerce in China and around the world as consumers expect a safe, convenient and affordable globalized payment platform such as Alipay has been.