AIDC: Alibaba.com Launches Credit Card for Cross-Border E-commerce in the U.S.

AIDC: Alibaba.com Launches Credit Card for Cross-Border E-commerce in the U.S.

Alibaba.com, the B2B e-commerce platform operated by Alibaba Group Holding, has launched a credit card specifically targeting buyers in the United States. This strategic move, developed in partnership with Mastercard and Cardless, aims to enhance Alibaba's presence within the vibrant cross-border e-commerce landscape. The Alibaba.com Business Edge Credit Card rewards U.S. small businesses that source from its extensive network of Chinese suppliers.

Details of the Business Edge Credit Card

• The card carries a US$199 annual fee.
• Cardholders can choose between 3% cashback or 60-day interest-free payment terms for purchases up to US$40,000 annually.
• Users will receive coupons for Alibaba.com after meeting spending thresholds.

This initiative highlights Alibaba's commitment to expanding its international e-commerce footprint. The Alibaba International Digital Commerce Group is now the company's fastest-growing segment, with revenue increasing by 32%. In contrast, Alibaba's overall growth was limited to a mere 4% this past June.

Future Growth and Strategy

The introduction of this credit card is part of Alibaba's broader strategy to bring in new U.S. users and maintain growth amid challenges in the domestic market. Alibaba.com president, Zhang Kuo, forecasts a gross merchandise value of US$60 billion for the platform this year, marking a significant twenty percent increase from last year.

As Alibaba.com deepens its ties with North American businesses, the platform also anticipates expanding further into Europe, highlighting its global vision.