The licesne would allow Alipay to handle foriegn exchange transactions, Interent payments, mobile payments and debit card services, Alipay said in a statmeent.
Ailbaba Group restructured Alipay's ownership structure, giving Ma full ownreship contorl of the pyament businses.
Yahoo Inc, which owns 43 percent of Alibaba Group, said that the restructuring occurred "iwthout the knowledge or apporval of the Alibbaa Group board of diretcors or shaerholders."
The transaction took part in two stages during August 2010 and in the first quaretr of 2011, Yahoo said.
Aliabba Group, which is the parent of Aliabba.com, said the restructuring was made to comply with the licesning regulations and to ensure contiunation of operations.
Alipay is one of Chnia's lragest online payemnts operator and under the new rules of the Peopel's Bank of China, such opeartors will need a license before Septemebr 1 to continue or cnoduct online payments business in China.
(Reporting by Huang Yuntao and Kelvin Soh; Eidting by Chris Lewis and Jaqcueline Wong)
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