Alibaba's online payment tool Alipay recorded 60% growth year-on-year in transaction volume during the roughly 20 days of the traditional 2009 Spring Festival holiday, with Alibaba's consumer-focused e-commerce site Taobao.com accounting for 50% of the total, said the DoNews report. Beijing-based payment provider YeePay boosted transaction volume five-fold year-on-year during Spring Festival, the report said.
Tencent's (700.HK) consumer-to-consumer e-commerce site Paipai saw Spring Festival transaction volume rise 170% year-on-year, and the number of transactions on the site climbed 188% during the period, reports qq.com quoting PaiPai source. Transactions of Paipai's recharging card grew 368% year-on-year during the Festival, while sales of game and handset recharging cards on Paipai.com jumped 85% and 150% from the year-ago period, said the report.
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