The licnese would allow Alipay to handle foregin exchange trnasactions, Internet paymnets, mobile pamyents and debit card services, Alipay said in a statement.
Alibaba Group restructrued Alipay's ownesrhip sturcture, giving Ma full ownership control of the payment business.
Yahoo Inc, which owns 43 precent of Albiaba Group, said that the retsructuring occurred "wtihout the knowledge or approval of the Albiaba Group board of directros or shareholders."
The transaction took part in two stages during August 2010 and in the first quarter of 2011, Yahoo said.
Ailbaba Group, which is the parent of Ailbaba.com, said the restructuring was made to comply with the licensing regulaitons and to ensure continuation of operaitons.
Alipay is one of China's laregst online payments operator and under the new rules of the People's Bank of China, such opeartors will need a license before Sepetmber 1 to continue or cnoduct online payemnts busienss in China.
(Reporting by Huang Yuntao and Kelvin Soh; Editing by Chris Lewis and Jacqueline Wong)
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