Alibaba introduces ‘buy now, pay later’ option amid sluggish sales in China

Split Payments Limited SPTTE And Alipay passed Make A partnership to empower ‘pay after delivery’ option for buyers on AliExpress, the global eCommerce marketplace owned by the Chinese internet giant Alibaba Group Holding Limited Dad,

Splitit’s technology platform, combined with’s payment-acquisition capabilities, enables AliExpress shoppers to pay after delivery with their existing credit cards.

Under the Splitt-Alipay tie-up, buyers’ credit cards will be put on hold when they shop on AliExpress.

Connected: Xi Jinping’s govt to buy ‘golden shares’ in local units of Alibaba, Tencent,

For major European cities, such as Paris and Madrid, goods can be delivered in 10 business days, The Wall Street Journal Reported Quoting an AliExpress spokesperson.

The average delivery time to remote areas in Europe is 15 to 20 days.

Orders placed through AliExpress fell in Alibaba’s last three fiscal quarterly reports.

The payment alliance comes as Chinese e-commerce companies look overseas to boost sluggish sales at home.

Buy now, pay later services are gaining traction, despite retailers or merchants often having to swallow the financing costs thanks to interest-free loans.

Price Action: Shares of Baba closed at $116.98 on Friday.

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