It supports Alipay payment, online payment and bank transfer payment of major domestic commercial banks such as China Construction Bank, Agricultural Bank of China, Bank of China, and Industrial and Commercial Bank of China.

Jack Ma founded the Alibaba website in 1999, which is the predecessor of 1688.

1688 is now the flagship business of Alibaba Group and is China's leading domestic trade e-commerce platform for small enterprises. As a subsidiary of Alibaba Group, 1688 represents the interests of enterprises in the CBBS e-commerce system, provides business information and convenient and secure online transactions for tens of millions of buyers and suppliers around the world, and is also a community for merchants to make friends and interact with each other in real life.

Extended information

The general process of online payment based on the Internet platform is as follows:

1 The customer accesses the Internet, browses the goods online through the browser, selects the goods, fills in the online order, selects the online payment settlement tool used, and obtains the bank's authorization to use it, such as bank card, electronic wallet, electronic cash, electronic check or online bank account.

2 The client encrypts the relevant order information, such as payment information, and submits the order online.

3 The merchant server checks and confirms the customer's order information, and forwards the relevant, encrypted customer payment information to the payment gateway until it is confirmed by the bank's back-end business server on the bank's dedicated network, in order to verify the authorization of payment funds from the bank and other electronic currency issuing institutions.

4 After the bank verifies and confirms, it sends confirmation and payment settlement information back to the merchant server through the established encrypted communication channel via the payment gateway. For further security, it sends a payment authorization request back to the customer (or not).

5 After the bank receives further authorization and settlement information from the customer, it transfers the funds from the customer's account to the bank account of the merchant engaged in e-commerce, settles with the help of the financial dedicated network, and sends payment settlement success information to the merchant and the customer respectively.

6 After receiving the settlement success information sent by the bank, the merchant server sends the customer a network payment success information and a shipping notice. At this point, a typical network payment settlement process ends. Merchants and customers can use the network to query their own fund balance information for further verification.

The above general process of online payment is just a general summary of the application process of various online payment settlement methods, which means that the application process of various online payment methods is exactly the same, but generally follows this process.