The new international service enables foreign currency transactions between Chinese consumers and overseas retailers. The service is the first online payment service of its kind in China, enabling transactions between Renminbi and 12 major foreign currencies.
Jack Ma, chairman of the Alibaba Group, said, Our mission is to make it easy to do business anywhere. Alipay’s trusted online payment service plays a vital role in fulfilling that mission. Now that Alipay is China’s most popular online payment system, it’s a natural step for us to expand the service globally.
