Alibaba.com and Alipay signed agreements with Kasikornbank, Thailand's leading universal banking group, to help SMEs to achieve new business from China and other global markets.

Kasikornbank's partnership with Alibaba.com will allow its customers to access a broader domestic and global market at a limited cost, in industries ranging from agriculture, jewelry, textiles, wooden furniture, food and beverage, cosmetics and skincare.

Kasikornbank also announced its integration of its K-Payment Gateway with Alipay to build an online cross-border payment receipt channel for its corporate customers. Thai businesses can now access an effective channel to sell their products and services to Chinese consumers.

Alipay's individual users in China can make use of a payment method they are already familiar with to purchase different types of products from Thai businesses.

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