Earlier today, Ant Financial, the Alibaba Group affiliate that operates Alipay, China’s largest online payment platform, said that it had taken a minority stake in mobile security technology startup V-Key to beef up the safety of its products as it prepares to expand overseas. Just a few hours later, Alipay announced that it has opened an office in Sydney, Australia to help promote Australian products to Chinese consumers. Alipay wants to grow its business beyond its online payments platform with a new vertical called ePass, which allows Chinese shoppers to buy things directly from overseas sites using Alipay Wallet’s mobile app. Fourteen million Chinese consumers currently make up nearly 78 percent of the total amount of people who make overseas purchases, and spent $16.7 billion in 2013, almost half the value of all cross border online sales, according to Nielsen.

http://techcrunch.com/2014/11/17/alibabas-payment-services-affiliate-alipay-opens-an-office-in-australia/