Taiwan expansion on Alipay agenda IBUonline is a B2B foreign trade platform which offers comprehensive foreign trade services

to China suppliers and international buyers. IBUonline also offers industry news about logistics, third party payment service, etc. Alipay is the mainlands largest online payment services provider and it is poised to ratchet up the expansion of its user base when it enters Taiwan next year. An affiliate of e-commerce giant Alibaba, Alipay has more than 650 million registered users, support for transactions in 14 major currencies and partnerships with up to 100 financial institutions, including Visa and MasterCard. In the first half of next year, Alipay is looking at a big push into Taiwan. The move follows Alibabas overall strategy of measured expansion into markets with large ethnic Chinese populations, including Singapore and Malaysia. IBUonline said Alipays foray into Taiwan was subject to the islands strict rules on third-party payment providers. But IBU still remained optimistic that Alipay would be able to cross those regulatory hurdles. Alipay is already in Hong Kong. In November last year, the Alipay card was introduced by Taobao Marketplace and Tmall.com, Alibabas two internet retail subsidiaries, in a venture with convenience store giant 7-Eleven. The Alipay card allows local consumers who opt not to pay with their credit cards to conveniently top up their Alipay accounts, which are used for shopping online. IBUonline is a new emerging B2B foreign trade platform; in fact IBUonline has its own third party payment to ensure online payment safety by cooperating with BOC bank. IBUonline may not have such good and famous third party payment service, but IBUonline has the large amount online payment service for B2B trade, which always involves large amount of payment.

Now IBUonline thinks that third party payment expansion move may set a good example for IBUonline, who will start to have its own plan in the near future.