An Alipay logo is seen at a train station in Shanghai, China February 9, 2015. Photo: Reuters/Aly Song

Alipay, a major third-party mobile and online payment platform in China founded by Alibaba, has been issued a fine of 180,000 yuan (US$28,543) for misleading marketing information and improper collection and use of customer data, The Paper reported.

According to the Hangzhou branch of the People’s Bank of China, Alipay’s violations are specific with regard to three aspects.

First, consumers’ right to information, as well as the right to independent choice was inadequately protected.

Second, the company launched misleading marketing in their video campaigns and on social media.

Also, the proportion of processed complaints was not calculated properly, leading to the fact the published data was wholly and deliberately inaccurate.

Third, its collection of personal financial information does not comply with the principles of “minimum and necessary.” It also cited improper use of customers’ financial data.