NASDAQ-LISTED New Oriental Education & Technology Group, the country's largest provider of private educational services, has teamed up with Alibaba.com Corp to facilitate sales of its online education services.

Alipay.com, the online payment division of China's largest e-commerce company Alibaba, will charge up to 1.5 percent of payment to New Oriental through its system.

"The cooperation in this widely used e-commerce payment platform will help us promote online education services," said Sun Chang, chief executive officer of Beijing-based New Oriental.

Hangzhou-based Alipay.com, China's largest online payment firm has more than 33 million users by the end of last year, with more than 460,000 daily transactions of over 100 million yuan (US$12.8 million).

New Oriental has already worked with major Chinese banks on the online payment. At present there are more than 100 students applying for New Oriental's courses each day, making payments of between 30,000 yuan and 50,000 yuan, accounting for about half of its daily sales.

China's online education services generated 20.2 billion yuan of sales last year, and it is expected to reach nearly 30 billion yuan this year.

Source:佚名