Alipay has launched a new international service which allows consumers in Mainland China to buy directly online from global retailers. The company is working with Bank of China and China Construction Bank to provide the international service and has also formed a partnership with Hongkong-based Asiapay to jointly develop the Hong Kong market.

Alipay was launched in 2004 by the Alibaba Group, which also owns Alibaba.com, Taobao, Yahoo! China and Alisoft. As of August 20, 2007, Alipay had more than 47 million users in China, growing at a rate of more than 80,000 new registered users each day. Alipay’s average daily transaction volume exceeds RMB 150 million, handling an average 780,000 transactions each day.

Alipay’s first international partner retailers include Sa Sa International Holdings Limited, StrawberryNET and J Shoppers. Alipay expects to expand its overseas partner list to over 100 retail websites by the end of the year. The company also predicts the international service will reach monthly transaction volumes of RMB 800 million by the end of 2007.