Alipay definition
Examples of Alipay in a sentence
Alipay is one of the largest third-party digital payment solution providers in the world.
Reference is made to the announcement of the Company dated June 29, 2018 relating to, among others, the entering into of the 2018 Payment Services Framework Agreement between the Company (for itself and on behalf of its subsidiaries) and Alipay, a wholly-owned subsidiary of Ant Financial, for a term commenced from June 29, 2018 and ending on March 31, 2019.
Pursuant to the Renewed Payment Services Framework Agreement, any member of the Group may request payment services from Alipay from time to time and in its absolute discretion according to its business needs.
For Alibaba Group Domestic Platforms Payment Services, the service fees shall be deducted by and paid to Alipay immediately from the transaction amounts received by the Group from the third parties or paid by the Group to the third parties for the corresponding transactions conducted on the Alibaba Group Domestic Platforms.
Alipay is one of the leading players in the online and offline payment markets in the PRC.