Logo of Alipay. [File Photo: sina.com]

Leading electronic payment platform Alipay has received approval to launch a payment service in Taiwan before the year end.

Meanwhile, Alipay is expected to work with E. SUN Commercial Bank in Taiwan to offer a QR mobile payment service.

More than 3-thousand convenience stores and shopping malls in Taiwan will offer the payment service to tourists.

Currently, Alipay has more than 400 million users worldwide and handles some 120 million transactions a day.

Half of those transactions are made on mobile devices.