Alipay, the online payment subsidiary of e-commerce giant Alibaba, and Internet titan Tencent are both set to expand further into the financial sector with the launch of new online credit cards on Tuesday. In a statement sent to the Global Times Tuesday, Alipay said it is joining with China CITIC Bank to issue online credit cards for all types of online shopping starting from next week.
Chinese tech firms are releasing their own virtual credit cards
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