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Alipay Plans to Invest in Mobile Payment Security

Alipay, the payment unit of Chinese e-commerce firm Alibaba Group, plans to invest CNY 40 million in order to create an online payment security investment fund, according to Telecompaper.

The fund will focus on mobile payments and created with other companies. The company believes that the mobile payments industry is growing fast and requires additional security, according to Alipay.

The fund will invest in companies that are researching software that defends against phishing websites, Trojan horse malware, and other malicious online software.

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