Alipay Eyes Taiwanese Market Entry

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Following's cooperation with FamilyMart in Taiwan, Alibaba's third-party Internet payment subsidiary has also announced plans to enter the Taiwanese market in 2014.

Fan Zhiming, vice president of Alipay, said that once approved by Taiwanese regulators, Alipay will launch a big promotion to enter the Taiwanese market during the first half of 2014. Fan revealed that the company has communicated with Taiwan's financial management bureaus. In the future, they will not only launch regular services in Taiwan, but also will provide face-to-face payment services via mobile phones.

Though the Taiwanese government is strict with third-party payment service providers, Fan is optimistic about the company's expansion into this marketplace.

However, Taiwanese financial industry watchers said the possibility for Taiwan to open t...

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