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Alipay’s rivalry with WeChat continues, Partners with Sina for Weibo Payment

According to estimates by McKinsey, Internet retail sales in China are expected to reach $395 Bn in 2015 three times the total in 2011. China’s internet giants, Alibaba Holding Group Ltd and Tencent Holdings Ltd. seek to be the biggest player in this market. Alipay, a unit of Alibaba partnered with Sina Corp on January 7th, 2014 to launch an online payment service. This move is to compete with Tencent’s successful monetization of WeChat app.

Alipay says that the new service enables users of Sina's Weibo microblog service to make offline and onli ...

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