Alibaba offers pay later solution for the US sellers buying merchandise

No primary category set

Alibaba have announced the launch of pay later solution for the US sellers buying merchandise on the marketplace.

The new financial service, which is powered by Kabbage, a payments supplier is designed to promote a business-to-business (B2B) global trade and attract more US merchants to join the marketplace.

Pay later solution allows US business on Alibaba to obtain up to $150,000 (£116,592) of financing for their orders. Sellers can apply for free via Alibaba.com or the Alibaba.com mobile app where they will be asked to submit details such bank account, accounting software and payment processors.

Merchants have a six months period to pay-off the loan with a 1.25% rate deducted from their account each month.

Financing at the point of sale requires a fully automated solution that can handle the immense volume of daily transactions that occur on Alibaba.com. We are incredibly impressed with the service and value that Alibaba.com delivers to American businesses and want to do all we can to support their important mission. The collaboration with Alibaba.com has already delivered millions of dollars of purchasing opportunity to U.S. small businesses and showcases the adaptability of our technology.”
-Rob Frohwein CEO Kabbage

RELATED POSTS..

UK / EU exports to China via Alibaba up 1/3 to €32.3 billion

UK / EU exports to China via Alibaba up 1/3 to €32.3 billion

Alibaba B2B beauty category sees strong UK growth

Alibaba B2B beauty category sees strong UK growth

How to leverage Alibaba.com B2B selling with Michiel Ebbing of Alioth

How to leverage Alibaba.com B2B selling with Michiel Ebbing of Alioth

Alioth selected as Alibaba.com Multi-Market channel partner

Alioth selected as Alibaba.com Multi-Market channel partner

Alibaba.com - Growing global demand for smart fitness and sustainable sports products

Alibaba.com – Growing global demand for smart fitness and sustainable sports products

ChannelX Guide...

Featured in this article from the ChannelX Guide – companies that can help you grow and manage your business.

Latest

Take a look through a selection of the latest articles on ChannelX

Register for Newsletter

Receive 5 newsletters per week

Gain access to all research

Be notified of upcoming events and webinars