On the morning of September 19, information from the Shanghai branch of the People's Bank of China official website showed that the company holding Alipay's payment license, "Alipay (China) Network Technology Co., Ltd.," has received approval for its name change. The new entity name is "Alipay Payment Technology Co., Ltd." It is understood that the operating entity of the Alipay App, Alipay (Hangzhou) Information Technology Co., Ltd., will also be renamed to Alipay (Hangzhou) Digital Service Technology Co., Ltd.

With this development, Alipay's two operating entities have successfully completed their rebranding, making the payment technology + digital interconnection dual-flywheel strategy clearer. Alipay stated that the corporate entity name changes represent a corporate governance upgrade under the continuous advancement of Alipay's dual-flywheel strategy, which will not affect customer service and experience. The "Alipay" brand and Alipay App name remain unchanged.