Online service provider and Alibaba affiliate Alipay is expected to expand into the Taiwan payments market next year, according to South China Morning Post.
Alipay has more than 650 million users, capabilities for transactions in 14 widely used currencies and partnerships with major financial institutions. The decision to spread to Taiwan comes alongside Alibaba’s “overall strategy of measured expansion into markets with large ethnic Chinese populations.”
For more on Alipay’s move to Taiwan, click here.
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