Mobile Payments Race To Heat Up As Alipay And CBA Partner

摘要

Alipay's deal with Commonwealth Bank Australia (CBA) forms part of Alibaba's strategy to expand beyond its domesticrnmarket, tapping into Chinese tourist spending and growing its foreign customer and merchant base. While CBA's dispute withrnApple over transaction fees and exclusivity is slowing mobile payment uptake, the bank will continue to make gains in thernAustralian market leveraging its own digital payment infrastructure and partnerships with companies like Google and Alibaba.