Alipay

(1) Alipay.com Co.,Ltd (AliPay) is China’s leading online payment service by both number of users and total transaction volume.

(2) A member of the Alibaba Group, it enables individuals and businesses to securely, easily and quickly send and receive payments online. AliPay works like an escrow service, solving the issue of settlement risk.

(3) Since its launch in 2004, AliPay has become the most popular and extensively used online payment tool for all areas of e-commerce in China, and is well positioned as the industry standard.

(4) As of Mar 6, 2008 AliPay had more than 69 million users and a daily transaction volume exceeding RMB350 million, with more than 1,440,000 daily transactions.

(5) To provide AliPay, Alibaba has partnered with all the leading banks in China, including Bank of China, China Construction Bank, Agricultural Bank of China, and the Industrial and Commercial Bank of China, as well as visa and other financial institutions.

(6) PayGate as one of the major AliPay partners, along with AsiaPay, MobileTech and sDynamics, is leading online payment services and developing solutions for e-commerce.