Alipay forms alliance with Japanese firm

Alipay, the electronic payment tool of Alibaba Group Holding Ltd, aims to get more online shoppers to adopt its payment service by teaming up with Japanese e-commerce company Rakuten Inc.

Rakuten Global Market, the vendor's international shopping service unit, recently started accepting Alipay as one of its payment options, allowing Chinese consumers to purchase goods in the cross-border marketplace and pay with Chinese currency.

The tie-up is Alipay's latest step as it moves beyond domestic shopping sites and handles transactions for international virtual vendors.