Alipay May Link Up With UnionPay

Economic observer has the scoop. It appear to be a move of weakness on the part of UnionPay, considering it has been losing total market share as commerce shifts to online and into the realm of online payment systems such as Alipay.

EO: 重磅独家!淘宝或向银联开放支付通道 敌对13年后首次“握手”
Recently, the Economic Observer Online obtained from people close to the two sides confirmed at Ali and UnionPay Online NOW negotiate negotiating issues Taobao payment channels open, but the details remain to be determined.

Alipay and China UnionPay rivalry heats up
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Online threat to China's UnionPay outweighs foreign card rivals
Chinese bank card operator UnionPay, which may soon have to defend its near monopoly against Visa and MasterCard, faces a much bigger threat from online payment providers such as Alipay, and is upgrading its systems to meet the danger.

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