Skip to main content

Market Overview

Here's Why Alibaba Stock Is Higher Today


Shares of Alibaba Group Holding Ltd (NYSE: BABA) were trading higher on Thursday, potentially due to a report from The Korea Times which stated that Alipay, an affiliate of Alibaba, has launched Alipay Wallet, a mobile version of its electronic payment system.

According to the publication, Alipay makes up nearly half of China's online payment market. With the new app, Chinese tourists visiting Korea are now able to use their mobile devices to purchase goods in the country.

Alipay Wallet is connected to a user's bank account or credit card and will be accepted at shops frequented by Chinese tourists. The adoption of the app, especially internationally, will help boost spending by its users.

Shares of Alibaba traded recently at $86.57, up 1.4 percent.


Related Articles (BABA)

View Comments and Join the Discussion!

Posted-In: Alibaba AliPay Alipay Wallet Mobile PaymentNews Global Tech

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at