• B&T, Tuesday, December 9, 2014 12:41 PM

Alibaba Group Holding Ltd revealed on Monday that users of its financial services affiliate, Alipay, are increasingly utilizing smartphones to make online payments. Alibaba’s online payment arm is processing 54 out of every 100 payments made through mobile phones, the Chinese e-commerce retailing company reported. The figure, recorded up to October this year, reflects a marked improvement from 22 out of 100 people in 2013. This is a clear indication of the fact that the Chinese smartphone market – comprising 500 million users - is gradually shifting to mobile payments.

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