TOKYO -- Alibaba Group Holding's plan to launch a version of the Alipay mobile payment service in Japan has hit a snag, as banks withhold cooperation out of concern over potential data leaks into China.
Alipay, operated by Alibaba affiliate Ant Financial, lets users transfer funds from a linked bank account to merchants by scanning a QR code with a smartphone app. The service boasts 500 million users in China, where Alibaba stands as the biggest e-commerce group.
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