Chinese E-payment provider Alipay and microblogging platform provider Weibo have developed an online payment system that enables users to buy products through communication with acquaintances, Alipay announced Jan. 7.
The new service, called Weibo Payment, allows Alipay users to connect their payment accounts with Weibo accounts to make payments and share their view on the product with followers on Weibo.
Alibaba Group founded Alipay in December 2004. The payments unit was spun off into a separate entity in 2009, with Alibaba maintaining an affiliate relationship with the business. Last year, Alibaba paid $586 million for an 18% stake in Weibo, which has more than 500 million registered users and more than 60 million active users.
Alipay and Weibo are also integrating their QR code systems. Weibo users will be able to scan QR codes to buy products offline at locations such as vending machines or store registers. Alipays mobile application, Alipay Wallet, already allows users make purchases by scanning QR codes and detecting sound waves.