Apr 12, 2010 06:53 PM

Alibaba Invests 5 Bln Yuan in Alipay

By staff reporter Chen Xue

[Click for Chinese Version]

Alibaba Group plans to invest a total of 5 billion yuan into its electronics payments service Alipay, marking the world's largest investment in the online payment sector.

According to Alipay, China's largest online payment network, the funds will be used to upgrade its security processes, product development and expanding the client base.

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