Alipay has launched yet another co-branded debit card a few days ago. Along with the Dragon Card launched over a year ago, Alipay users can now apply for the Taobao Green Card.
We have previously reported on Alipay’s Multi-Channel Payment Options that include online bank transfers, cash remittance through China Post, and credit card substitutes in the form of Alipay co-branded debit cards.
China Construction Bank was the first bank to cooperate with Alipay to issue the Dragon Card as early as November 2006. Since then Alipay has partnered with China Merchant Bank (CMB), Postal Savings Bank of China (PSBC), Bank of Wenzhou, Qingdao City Commercial Bank, and Taizhou Commercial Bank to offer and promote the Dragon Card. Alipay and PSBC's new co-branded debit card the Taobao Green Card is the latest addition.
Alipay's co-branded debit cards function as a regular debit card with additional online banking services, that is, users can directly make online payment through Alipay with the debit card. The use of the co-branded debit cards on Taobao allows users to make payments by only entering one password, since the user's ID has already been authenticated when applying for the card at a local bank branch.This is especially useful for sellers on Taobao, who without a co-branded card can wait for the initial authentication process to finish for several days.
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