Just doing some reading and as per the video I posted the otherday it looks like this company is going big on ecommerce in China....I understand that they may be the only ones alowed to do this particular thing in China......def. a story to keep an eye on....it only trades otc here in the US from what the guy on the video said

Alibaba Group To Invest About US$732 Mln In Online Payment Platform Over Five Years - Update

Alibaba Group To Invest About US$732 Mln In Online Payment Platform Over Five Years - Update

Mon Apr 12 07:20:00 2010
EDT
(RTTNews) - Chinese online payment network Alipay announced Sunday that Alibaba Group would invest
nearly US$732 million or RMB 5 billion over five years, in payment solution upgrade for e-commerce in

China and around the world.

Headquartered in Hangzhou, Zhejiang province of China, Alipay is China's online payment solution,
which enables easy, safe and secure online payments to individuals and businesses. Alipay had a registered

user base of over 300 million as of March 2010. Alibaba Group is China's largeset e-commerce company.

Yahoo! Inc. (YHOO) owns a 40% stake in Alibaba Group.

Lucy Peng, CEO of Alipay & CPO of Alibaba Group, said "Online payment will continue to play an ever-growing

and significant role in the development of e-commerce as well as the stimulation of consumer demand.
Consumers expect a safe, convenient and affordable globalized payment platform. That's what we have
offered since the creation of Alipay and with this investment we aim to continue playing a fundamental

role in the ongoing development of e-commerce in China and around the world,"

The proposed RMB 5 billion investment would be deployed towards enhancement of infrastructure security;

development of products to improve "ease of use and convenience" for customers; to increase the number

of consumer accounts and build a comprehensive network of merchants.

The group intends to retain and attract top-tier talent from the payments industry. The investment
would facilitate Alipay to attract and train a larger pool of talented professionals from the payments

industry who would in-turn build a "truly globalized and sophisticated" e-commerce payment infrastructure.



Alipay will also commit additional resources into online safety and security, risk and data management,

as well as to innovate new technology areas such as mobile payments.

"A truly first-rate payment infrastructure must be one that offers unquestionable security and an excellent

user experience. It must be universally accepted by consumers and merchants. Only a platform with these

qualities will be able to meet the growing demands of the hundreds of millions of consumers embracing

retail e-commerce," added Lucy Peng.

ALBCF.PK closed Friday's regular trading at $2.10, on the OTC.

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