'Just spend', Alipay tells shoppers

Alipay, the e-payment division of Alibaba Group Holding Ltd, is launching a consumer financing service that allows shoppers to pay for online purchases the month after delivery.

The service, called huabei (just spend), offers loans of 1,000 yuan ($161) to 30,000 yuan. It is intended to improve the experience of online shopping, said an Alipay statement on Monday.

Those who shop on the company's Taobao and Tmall platforms can use this service and repay their loans by the 10th of the month following delivery.