Alibaba Group's online payment subsidiary AliPay had signed cooperation contacts with 126 overseas merchant partners across nine countries and regions to offer AliPay online payment services to Chinese users by the end of 2007, reports ChinaByte quoting a company insider. AliPay announced its cooperation agreement with Philliou Selwanes Partners to promote Alipay service to North American merchants on December 20. After launching service in Hong Kong in August 2007, AliPay expected to gain 100 overseas partners before 2008.

AliPay changed its company name to AliPay (China) Network Technology Co. Ltd effective January 1, reports Hexun. The subsidiary was formerly known as Zhejiang Alipay Network Technology Co., Ltd. Alibaba Group and Alibaba's consumer-to-consumer (C2C) site Taobao vice president Shao Xiaofeng was announced as AliPay's new executive president while Alibaba vice president and AliPay president Lu Zhaoxi was named Taobao president on December 24.