B2B Trade News

Pinterest China (aka Fa Xian) by Alibaba.com

2012-04-09T15:59:00.001+08:00

Fa Xian is an addition to B2C website etao.com powered by Taobao - a B2C website from Chinese B2B Marketplace Alibaba.com. What made Fa Xian got the attention of news all over the world is its striking resemblance to Pinterest. As per one news from Reuters, the website is already attracting upto 60,000 unique visitors every day.

Pinterest is more like social bookmarking website and does not allow any sort of affiliate codes. On the other hand Alibaba on its ecommerce website has merged the concept of Pinterest by selling products while engaging visitors. All pinned products can be purchased.

Alibaba has taken this idea as an opportunity to capture more sales from Chinese market of young internet users who easily get admired to fun oriented.
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Alibaba 3rd most visited Ecommerce Marketplace on Internet

2011-09-18T00:36:00.000+08:00

In recent study by comScore about online global retail and auctions sites discovered that reached the largest global audience. Alibaba.com with over 156 million visitors in June 2011 was ranked third. Almost 20.4 % of the worldwide Internet population visited alibaba.com.

Gian Fulgoni, comScore co-founder and chairman said "While retail e-commerce has already grown to become a $150+ billion annual industry in the U.S., it still presents enormous upside opportunity across much of the globe,"

"Technology has changed the way consumers behave, and increasingly they are opting for the convenience and pricing advantages offered by the online channel. Several global retail brands have already capitalized on this global consumer trend, and many other retailers are sure to pursue their share of the pie."
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Alibaba Q2 Profits Rose 28% Beating Anlaysts Forecasts

2011-09-18T00:12:00.000+08:00

Alibaba.com beat forecasts of analysts by jumping 28 percent (RMB464.5 million (US$71.5 million)) in Q2 profit.

The company said the increase reflects its "focus on creating more value for our existing customers with enhanced products, services, and trust and safety initiatives, rather than accelerating new customer acquisition".

Customer numbers jumped nearly 60 percent over the year to 21.6 million after what Alibaba said was a "significant rise in overseas traffic" - traffic to its international B2B marketplace is up 65 percent for the year.
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Huawei goes Cloud with Huawei Vision Mobile Phones

2011-09-17T23:50:00.001+08:00

Huawei Device Co Ltd launched its first cell phone offering cloud-based services on Wednesday, joining other Chinese companies including Alibaba Group Holding Ltd and Baidu Inc within the move to apply cloud computing technology in smartphones.

Huawei Device, the terminal branch of the world's 2 telecommunication equipment maker Huawei Technologies Co Ltd, launched a 3.7-inch touch screen cell phone called "Vision" in its cloud phone global launch ceremony in Beijing on Wednesday August 3, 2011.
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Alibaba & Global Logistic Properties Signed Agreement

2011-08-21T11:46:00.001+08:00

Headquartered in Shanghai, Global Logistic Properties (GLP) has signed two agreements with Taobao Mall of Alibaba Group for the lease of two facilities in Shanghai and Guangzhou.

GLP said in a statement that the agreement marks the partnership between the two companies and is expected to improve the nationwide logistics facility network for Taobao Mall's online retailing business.

As per the agreement 55,000-square-metre facility in GLP Park Hongqiao (West) in Shanghai and a pre-leased 20,000 square metres in GLP Park Zhencheng (Xintang) which will be completed and delivered to Taobao Mall by the end of October 2011.

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Yahoo Sued Over Alibaba Payment Restructuring

2011-08-21T11:13:00.001+08:00

News from Yahoo! Inc. regarding Alipay restructuring and getting misled by Alibaba Group caused Yahoo! Inc. to get sued by its shareholders.

The investors, in a complaint filed in federal court in San Francisco, claim that Yahoo! was failed to tell them by May 10, 2011 that its $1 billion investment in Alibaba was “severely impaired” by the transfer of the payment business, Alipay, to a closely held company controlled by Alibaba Chairman Jack Ma.

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TradeSparq - The Social Network For Global Trade - Review

2011-08-13T04:23:00.000+08:00

Lately a new b2b social marketplace caught my eyes with its unique business model. As the founders say it is a combination of Alibaba & LinkedIn models. That is they took B2B part from Alibaba and let buyers & sellers do business on their own in a form of social networking. hmmm... pretty smart huh!

TradeSparq homepage snapshot 13-Aug-2011

As per TradeSparq "Why people sign on Linkedin? One of the reasons is that they want to be connected with guys from their partners, sellers or customers. And why Alibaba has been popular for years, because it enables an easy way for buyers to discover thousands of manufacturers which are mainly from China. However, when you are on Linkedin, usually you don't know what products your contacts' companies are actually selling; and on Alibaba, as a manufacturer if you want more exposure, you should pay certain membership fee which is not cheap (~$3,012 per year for Gold Suppliers membership). As a buyer, you can be easily got lost as you don't know which supplier you should trust more. These are the issues TradeSparq wants to solve."
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Western Union shakes hand with AliExpress.com

2011-08-13T03:47:00.001+08:00

Right when Paypal and AliExpress announced separation, Western Union, a known name in payment transfer services worldwide, has shaken hands with Alibaba Group. With this agreement, buyers by using Western Union on AliExpress.com can make cash payments to the suppliers from around the world.

Escrow as mentioned on AliExpress.com

Western Union and AliExpress expect it to become a key payment platform option in emerging or otherwise under-served markets such as Latin America, Eastern Europe, Middle East and Africa where entrepreneurs have limited payment options and rely on cash transactions to sustain and grow their businesses, said a statement.
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Picture worth a 1000 words - Alibaba's new image matching service

2011-08-10T21:47:00.000+08:00

Old saying "Picture worth a 1000 words", China based B2B Marketplace Alibaba.com has just made use of the wisdom behind. A new service has been introduced by Alibaba in which shoppers can now upload images of desired clothings. This service will help buyers & sellers to easily share their requirements such as style, color, design and textures.

Alibaba has given it a name in Chinese "Tuxiang", but in English Alibaba is tentatively calling it “Imagine" the service is a way for users to buy the clothing they see in advertisements or in celebrity photos, said Alibaba spokeswoman Florence Shih.

“We were hoping to give customers another channel to look for products, especially if you have an idea of what you would like to find but don’t know the keywords,” she said.

The service is currently limited to apparel, shoes and bags and let shoppers uploaded to the b2b website by using URL of image on some other websites or from their computer. Once a picture is uploaded to the website, either from a computer or a web link to the image, users select the category of product they want to search for. The service then attempts to find the best product matches in the Taobao Mall and Taobao Marketplace, Alibaba's online e-commerce sites. The results appear as a breakdown of more than a dozen different products shown as images with price comparisons.

The new image service came after a third-party developer team won an Alibaba-sponsored competition in January 2010 to create applications. the team then worked in cooperation with Alibaba to develop the search service.
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China's Small & Medium Sized Enterprises in Crisis

2011-08-10T06:49:00.000+08:00

According to a new survey published by Alibaba Group and Peking University on shows that small businesses in China are yet in crisis once again. As per the country's GDP data SME's account for 65 per cent of the country's GDP and provide almost 80 per cent of its jobs.

The major reason of this downfall is the increasing cost of labour and materials in China. In the said report over 2300 SME's were interviewed in one of the China's most economically active states, Zhejiang province.

“The interviewed companies' average capacity utilisation ratio [which measures how efficiently plants are being used] this year and last stands at 72 per cent, lower than in 2008 and 2009,” said Simon Hu, a vice president of Alibaba Group.
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Alipay relaxed as Yahoo and Alibaba reached to Agreement

2011-08-04T05:44:00.000+08:00

As per latest news, Yahoo & Alibaba have finally come to an agreement in a months-long battle over the ownership of payment site Alipay (online payment processor in China).

Problem started back in May when Yahoo disclosed to the SEC that Alibaba had transferred 100% of its ownership of Alipay to a new company controlled by Alibaba CEO Jack Ma.
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Alibaba Mobile OS Aliyun & K-Touch Cloud-Smart Phone W700

2011-07-31T21:21:00.002+08:00

Finaly the suspense is over after Chinese e-commerce giant Alibaba Group has launched its own mobile operating system for handsets and tablets in China. The decision was made after the success of Android and Apple's iOS devices. Alibaba is primarily aiming to promote Chinese industry of IT services and also its online products such as B2B Marketplace (Alibaba.com), Taobao and group shopping in its China with this operating system.

Alibaba subsidiary Alibaba Cloud Computing unveiled the Aliyun OS on Thursday July 28, 2011, and displayed a Chinese-manufactured smartphone using the Linux-based operating system. As per the sources this phone will be available in Chinese makrets by the end of July, 2009 at estimated cost of 2,680 yuan (US$416). A tablet (AKA APAD in China) running the Aliyun is also expected to be launched in China later this year.

Competitive Advantage of Aliyun over Android & Apple iOS

The Aliyun OS not only can run Android apps, but it can also run Web-based apps built with HTML 5 or JavaScript. This feature will allow Alibaba and third-party developers to more easily deliver online products to devices using the operating system without having users to download any software, said Wang Jian, president of Alibaba Cloud Computing.
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Baidu China Ad Sales Surpassed Expectations

2011-07-31T20:22:00.000+08:00

Baidu Inc. (Search Engine Giant from China) beat estimates of analysts after biggest Internet company of China by market value boosted search-engine advertising sales after reporting a 95 percent surge in second-quarter profit.

According to bloomberg, Net income climbed to 1.63 billion yuan ($252.6 million), or 4.67 yuan per American depositary receipt, compared with 837.4 million yuan, or 2.4 yuan, a year earlier, Baidu said today in a statement. That exceeded the 1.5 billion yuan average of 12 analysts' estimates.
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AliPay go Mobile with Mobile Barcode Payments

2011-07-12T23:12:00.000+08:00

AliPay, the online payment division of e-commerce Alibaba, has brought 'mobile wallet' to Chinese stores, allowing transactions between shops and their customers. All customers need is to have AliPay application on their mobile phones.

How Alipay on Moble Phones works?
So far iPhone, Android and Nokia apps have released new mobile barcode payments feature for their handsets. Customers with iPhone, Android or Nokia phone need to install AliPay app on their phone first.

Sellers can easily accept the payments by just scanning through the barcode generated on their customer's cell-phone in one of two ways:

1. with the camera of their own smartphone (through their own AliPay account) or,
2. with the barcode scanning gun attached to their cash register.

isnt' it simple? ;)

To make it easier, Alipay did not want customers and shop-keepers to buy extra equipements and made it work with existing systems working all over China. At the moment, AliPay is aiming this at small shops, who need only to register (for free) to put the service into action.

With this system Alipay believe that they can get a bigger share from small businesses in China. They also have plans to make it even simpler and accessible and grow from small retailers to large transactions in future by integrating credit/debit cards using point-to-point terminals.

Shoppers can use funds contained just in their AliPay account, or on any debit or credit cards that they might have connected to it. The shopper will need to have internet access on their phone, by wifi, or 2G/GPRS or 3G.

Yahoo! Drops On Alibaba Fraud Arrests

2011-07-12T23:09:00.000+08:00

With the news of earlier this month 36 people were detained by police in China linked to Alibaba.com fraud investigations. As a consequence Yahoo! shares dropped almost 6 cents and closed at $12.83.

The fraud spanned several Web sites, not just Alibaba, and involved creation of multiple fake personal and business accounts. The fraudsters were able to take $6.6 million in payments and then never delivered the goods, according to remarks Chao cites by Alibaba Group representatives.

The company said it fired some employees who colluded with sellers creating fraudulent listings.

Buying Trend of Alibaba's 1 Million UK Members

2011-07-12T23:07:00.000+08:00

After achieving one million members target in UK, Alibaba has just released data regarding UK members spending behavior on their website.

Wide range of products have been shared by Alibaba. Some of the statistics are as follows

purchases in UK as per the data:
Machinery - 10.7%
Minerals - 5.8%
construction - 5.6%
Clothing - 5.1%
Computer products - 3.2%Electrical products - 3.0%

As per the stats every 1 out of 3 Alibaba members in the Europe are from the UK, which means there are another 2 million Alibaba customers spread across Europe. China is where the lions share of UK Alibaba purchases are made, but there's a growing number of UK suppliers on Alibaba which now account for 4% of purchases – Domestic UK purchases are now ahead of those from Hong Kong (3%).

Microsoft Partners with Baidu

2011-07-12T23:00:00.001+08:00

Microsoft Corp. (MSFT) and Baidu Inc. agreed to bolster their Internet-search partnership in China as the companies seek to gain users from Google Inc. (GOOG) in the world's biggest Internet market.

The agreement will let Baidu users see English search results generated by the U.S. company's Bing technology to users in China, Viola Wang, a spokeswoman at Microsoft's MSN venture in China, said by phone today. A service jointly offered by the companies will start this year, Baidu said in an e-mailed statement today.

Baidu, based in Beijing, is expanding outside its main business of Chinese-language search, after fending off Google in China. Microsoft, which is gaining users for Bing in the U.S., is building on its partnership with Baidu after ending a search- engine agreement with China's Alibaba Group Holdings Ltd.

“This is not good news for Google," said Jake Li, who rates Baidu shares "accumulate” at Guotai Junan Securities in Shenzhen. Most Chinese Internet users currently prefer Google's English-language search results over Baidu, whose service will be improved by the partnership with Microsoft, he said.

Google declined to comment.

Google, owner of the world's most popular search engine, accounted for 19.2 percent of China's search market by revenue in the first quarter, down from 19.6 percent three months earlier, according to research firm Analysys International. Google's figures includes revenue generated from its local sites and international services, according to Analysys.

Market-Share Losses

Increased demand from Chinese companies marketing on international websites such as the English-language Google.com helped Google post increased revenue in China in 2010, Daniel Alegre, president for Asia-Pacific at Google, said in December.

Google has lost market share to Baidu in China since the Mountain View, California-based company pulled its Google.cn search-engine out of the country last year, according to data from Analysys. Baidu increased its share to 75.8 percent from 75.5 percent in the first quarter, while Microsoft Bing’s market share is less than 1 percent, according to Analysys.

Baidu had an existing agreement with Bing for some mobile- phone users in China, Haoyu Shen, senior vice-president at Baidu, said in May. Baidu is working on efforts to expand overseas, and its developing products in 12 foreign languages, Shen said at the time.

Alibaba stopped offering Microsoft Bing on its eTao search service, Justine Chao, a spokeswoman at Alibaba, said in May.

Source Blooberg

Alibaba-Yahoo Fight Highlights Threat to China Internet Control

2011-07-12T22:55:00.000+08:00

Warning to Beijing: Foreign capital is threatening to pry loose grip on the Internet in China.

Such, at least, was the argument advanced by researchers from China's top think tank in an essay published Monday.

“The combination of capital and the Internet is a mighty controlling power. The Internet is a special industry–once it is controlled by foreign capital, the impact could be severe,” Jing Linbo and Wang Xuefeng of the Chinese Academy of Social Sciences wrote in the Study Times, a publication of the Communist Party School. “So far the issue of control has not been given sufficient attention.”

Exhibit number one, according to Mssrs. Jing and Wang: the recent dispute between Yahoo and Alibaba Group over the ownership of online-payments unit Alipay.

Yahoo, a major shareholder in Alibaba, said in a regulatory filing in May that Alibaba transferred ownership of Alipay to a company owned by Alibaba Chief Executive Jack Ma without seeking board approval or notifying the U.S. company. Alibaba has said the transfer was made necessary by a new central bank rule forbidding foreign ownership of online payments company and that it had been carried out transparently.

In an interview with the editor of Chinese business magazine Caixin, Alibaba founder Jack Ma defended the new ownership rule on security grounds.

The essay comes with a number of notable Chinese Internet companies having recently listed in the U.S., including video site Youku and Facebook-like social network Renren.

“If we judge by the indicator that a foreign control of over 20% stake is relatively controlled, and over 50% is majority-owned, then most Chinese Internet companies that are listed offshore are controlled by international capital,” the authors wrote. “International capital thus controls our Internet industry.”

They also said the combination of capital and the Internet will have an impact on politics and the government, adding that China should strengthen supervision not only over a company's capital structure but also its business operations, including its dealings with related parties.

While the Chinese Academy of Social Sciences is an influential government organization, it is unclear how much support the views have among government regulators. Publication in Study Times, however, means that the Communist Party does not object to making the views known to a wider audience.

Alibaba Mobile-Operating System Coming Soon!

2011-07-12T22:53:00.000+08:00

As per the news development of an operating system for mobile phones is under progress at Alibaba Group Holding Ltd. unit Alibaba Cloud Computing. Alibaba is planning to release first version in the third quarter.

The Alibaba offering will add to the competition in China for Google Inc.'s Android operating system, Apple Inc.'s iPhone smartphones and Microsoft Corp.'s Windows Phone platform.

Facebook going China

2011-07-12T22:49:00.000+08:00

Looks like time is not far when Facebook can also be used in China as sovereign wealth fund of China is reportedly planning to buy a stake in Facebook.

Business Insider, citing a source at a fund that buys stock from former Facebook employees, claimed yesterday that the Chinese buyer hopes to see if it could buy a stake large enough "to matter" of Facebook, the most popular social networking website in the world with 700 million users.

Citibank is trying to acquire as much as US$1.2 billion worth of Facebook stock on behalf of two sovereign wealth funds - China's and another from the Middle East.

China Investment Corp, the nation's sovereign fund, was not available for comments.

Thanks to its huge user base and clear business model through online advertising and promotion income, Facebook is now one of the most mentioned investment target in the industry.

The US-based website is widely expected to be listed in a year or two.

Though Facebook is not available on the Chinese mainland, its founder and Chief Executive Mark Zuckerberg is keen on the market - the world's biggest - with more than 400 million Internet users.

Zuckberg will probably visit Shanghai in September, which will be his second trip to China. In 2010, the 27-year-old Facebook CEO met with leaders of the top Internet companies in China, including Baidu, Sina, Alibaba and Tencent.

Chinese Airlines to sell Tickets using Alipay

2011-07-09T17:35:00.000+08:00

Since increased oil prices and completion of high speed railway projects among major cities in China, airlines are actively seeking ways to reduce ticket prices. In the same effort Air China has undergone agreement with Alibaba Group's Alipay to sell tickets directly to customers from their online website.

From now on official Air China website, Alipay will be used for online payment support for ticket sales. Other airlines to follow are China Southern and China Eastern.

Currently, tickets offered by some airlines' official websites are cheaper than their agencies', because the authority of fixing the original price of the ticket belongs to the airlines, the report notes.

Due to high oil prices and earning less than 1% of a profit margin in the global airline industry, direct online outlet can increase airlines' profits as the reduction of commissions attracts more customers, the report said.

It is reported that the sale of over 90 percent of airline tickets in China have been conducted by agencies. Yet in developed countries, more than 30% of airlines tickets are directly sold from airlines' official websites, while the ratio even reaches 60 percent for some well-established companies.

Recently on Alipay

36 suspects Arrested by China Polic Over Alibaba Fraud Case

2011-07-09T17:20:00.000+08:00

36 suspects have been arrested in China for allegedly operating scams that netted US$6.6 million from customers of B2B websites like Alibaba.com, Tradekey.com, etc...

The arrested suspects operated by pretending to be legitimate suppliers on Alibaba.com. The arrests were made in the Putian, Chinese in April 2011, but were only disclosed on Wednesday at a news conference held by Alibaba and Hangzhou's public security bureau.

Buyers either did not get the products ordered while payments had been made to sellers or either they recieved totaly different or lower quality product. In past few years since online B2B marketplaces developed rapidly it had become a norm for buyers to get scammed.

As per the statement issued from Alibaba Hanzhou, the suspects used Alibaba.com and others websites to scam customers. Names of other websites has not been issued by Chinese police yet.

Alibaba took action against 36 suspects who were allegedly seen involved in fraud cases that had threatened to damage the reputation of Alibaba.com. In February, company took a bold step and revealed 2,326 suppliers on the alibaba.com website who had been engaged in scams against overseas buyers from 2009 to 2010. The fraud was so extensive that 100 sales people, along with several supervisors and sales managers were found responsible for allowing the crimes to evade detection.

Alibaba.com, and its parent company Alibaba Group, have sought to reassure customers of the site's safety. Alibaba.com's CEO and COO both resigned in response to the fraud cases, while employees involved with the fraud were terminated. Alibaba has also paid $1.94 million to compensate buyers who were victims on the fraud.

The 36 suspects, however, were only responsible for part of the fraudulent transactions committed on Alibaba.com, said Chan. The company has been assisting Chinese police to track down other suspects involved with e-commerce scams.

Following the disclosure of the fraud cases, Alibaba.com has taken new measures to prevent scams from taking place. Since February, the number of fraud complaints received monthly by Alibaba.com has declined 70 percent, according to the company.

Recently on B2B Marketplaces

SingleFeed Acquired by Alibaba Co. Vendio Services, Inc.

2011-07-09T16:55:00.000+08:00

Alibaba's Vendio Services Inc., a multi-channel e-commerce solution for small-to-medium sized businesses has acquired SingleFeed (singlefeed.com) a comparison shopping engine feed management and analytics company. SingleFeed enables top online merchants to submit, manage, and optimize product listings on more than 18 top comparison shopping engines starting from a single set of product details. The SingleFeed platform also provides powerful analytics that help merchants easily understand leads, sales and conversions.

SingleFeed strengthens Vendio's core mission of enabling merchants to sell to anyone, easily, by simplifying and enhancing their access to tens of millions of additional online shoppers. "For more than ten years, we have been growing with our merchants by helping them reach buyers wherever they are shopping," said Mike Effle, Vendio CEO. "We have expanded from our core eBay expertise to power Amazon marketplace sales and fully customizable, SEO-friendly free web stores that also integrate seamlessly within Facebook. SingleFeed's services not only expand the number of buyers our merchants can reach, but we were also particularly impressed by comments from existing customers who noted significant improvement in their businesses by leveraging SingleFeed's technology and expertise."

The comparison shopping engines drive between 15 and 40% of an online store's monthly visits, with three of the largest engines (Bing, Google Product Search, and The Find) offering cost free programs to merchants. SingleFeed takes a store's product data and delivers it to the shopping engines with minimal effort and works to improve shopping engine campaigns. Reporting analytics help merchants ensure budgets for paid shopping engines drive the maximum number of cost-effective sales and newly acquired customers.

Vendio will seamlessly integrate SingleFeed into its multi-channel e-commerce platform. Through this acquisition, SingleFeed's technology and services will also be offered to merchants using Auctiva, Vendio's sister company. In total, 250,000 Vendio and Auctiva merchants will be able to access SingleFeed through custom integration and take advantage of preferred pricing. SingleFeed will continue to operate as an independent brand and standalone service at the SingleFeed site, thereby ensuring existing customers and partners will not be disrupted in any way. Existing and new customers will benefit from additional investments to expand the SingleFeed services with additional enhancements such as new channels, improved analytics, and additional automation.

About Vendio Services, Inc., a division of Alibaba.com
Vendio, an Alibaba.com company (HKSE: 1688) (1688.HK), is a leading multi-channel e-commerce software solution that helps merchants sell wherever buyers are shopping. Vendio enables merchants to sell through online marketplaces, comparison shopping engines, a SEO-friendly web store and harness the power of social commerce, with an integrated app to sell on Facebook. Merchants use the Vendio platform to list products, and manage inventory, orders, and customers. Together with Alibaba.com and AliExpress (aliexpress.com), Vendio provides online merchants the ability to sell to anyone, anywhere. Alibaba.com makes it easy for millions of buyers and suppliers around the world to do business, forming a community of more than 65 million registered users in more than 240 countries and regions. Vendio alone has more than 90,000 merchants selling nearly $2 billion in merchandise. Vendio also operates Dealio (dealio.com), a shopping and coupons site for consumers. Alibaba.com has offices in more than 60 cities across Greater China, India, Japan, Korea, Europe and the United States, including Vendio's headquarters in San Mateo, CA.

About SingleFeed
SingleFeed helps online merchants succeed on more than 18 shopping engines by automatically delivering optimized data feeds to the highest quality shopping engines like Become, Google Product Search, Pricegrabber, and NexTag. Submit a single product data feed and SingleFeed will validate the feed, make automated corrections via hundreds of feed rules, spit back errors, suggest optimization opportunities, and also properly categorize all products for each of the shopping engines supported. SingleFeed only works with the top shopping engines to ensure merchants are getting the most qualified traffic. SingleFeed helps retailers save time and money getting up and running on the comparison shopping engines and maximizing their ROI. With affordable monthly service plans, SingleFeed is a cost effective solution for small and medium sized businesses.

PayPal Broke Up with AliExpress

2011-07-05T22:59:00.000+08:00

PayPal will stop its services as payment gateway for AliExpress from August 3, 2010. Aliexpress is a wholesale marketplace for small businesses launched by Alibaba.com. These two giants had old cooperation which is now going to end.

Immediate plan of using substitute has not been announced by AliExpress yet as the departure of PayPal can greatly impact AliExpress' business as well as their exploration in overseas markets. This leading online payment platform has been playing an important role in the business growth of AliExpress since the Alliance of Alibaba and eBay last year.

PayPal are the most frequently-used payment services with over 84 million active accounts, more than 220 million clients in 190 markets and 24 currencies all over the world. So cooperating with PayPal for AliExpress was significant in real time transaction online.

The cooperation termination between PayPal and AliExpress allows for great challenges and opportunities for other B2B platforms in China to boost their business and catch the eyes of more and more customers worldwide.

Alipay, an Alibaba Group company for online payment processcing is growing rapidly in China but it still have a long way to go to make its mark in the global market. PayPal seperation can impact many SMEs in China as their buyers feel it comfortable to use paypal as compare to other payment transfer methods.

Similar B2B News

Softbank Alipay Alibaba Progress Towards Settlement

2011-06-28T22:46:00.000+08:00

Agreement over the transfer of online payment unit Alipay between SOFTBANK Corp Japan and Alibaba Group Holding Ltd China is expected soon.

As per the statement from Softbank chairman Masayoshi Son, he expects to reach an agreement over the Alipay dispute soon, without elaborating, as he spoke at an energy forum yesterday in Seoul, South Korea.

In May 2011 Jack (Chairman Ma Alibaba Group) had transferred the group's payment company Alipay to a new entity under his control. Softbank and Yahoo! Inc, Alibaba's two biggest shareholders, demanded reasonable compensation for the loss of Alipay.

The dispute was raised in the central bank when new licensing system for non-financial third-party payment service providers was announced.

The People's Bank of China, said applicants must be domestically owned corporations with registration capital of at least 100 million yuan, according to an announcement in June 2010.

Companies with overseas investors were required to apply to the State Council for a license. Ma sold Alipay to Zhejiang Alibaba E-commerce Co, a private company controlled by himself and Xie Shihuang, another co-founder of Alibaba Group, for 330 million yuan. The transaction was completed last August.

Ma has insisted Alibaba board members were aware of the transaction and had agreed to the transfer.

Softbank currently owns about a 30% shares of Alibaba while Yahoo owns about 40%.

Recent Alibaba News:

B2B Trade News

Pinterest China (aka Fa Xian) by Alibaba.com

Alibaba 3rd most visited Ecommerce Marketplace on Internet

Alibaba Q2 Profits Rose 28% Beating Anlaysts Forecasts

Huawei goes Cloud with Huawei Vision Mobile Phones

Alibaba & Global Logistic Properties Signed Agreement

Yahoo Sued Over Alibaba Payment Restructuring

TradeSparq - The Social Network For Global Trade - Review

Western Union shakes hand with AliExpress.com

Picture worth a 1000 words - Alibaba's new image matching service

China's Small & Medium Sized Enterprises in Crisis

Alipay relaxed as Yahoo and Alibaba reached to Agreement

Alibaba Mobile OS Aliyun & K-Touch Cloud-Smart Phone W700

Baidu China Ad Sales Surpassed Expectations

AliPay go Mobile with Mobile Barcode Payments

Yahoo! Drops On Alibaba Fraud Arrests

Buying Trend of Alibaba's 1 Million UK Members

Microsoft Partners with Baidu

Alibaba-Yahoo Fight Highlights Threat to China Internet Control

Alibaba Mobile-Operating System Coming Soon!

Facebook going China

Chinese Airlines to sell Tickets using Alipay

Softbank Alipay Alibaba Progress Towards Settlement

Alibaba.com share sores 1-week high after Alipay progress

36 suspects Arrested by China Polic Over Alibaba Fraud Case

Chloe Sues B2B Website for Enabling Counterfeit Sales

The History & Milestones of Alibaba Group

eBay to Promote China Sellers

SingleFeed Acquired by Alibaba Co. Vendio Services, Inc.

PayPal Broke Up with AliExpress

eBay to Promote China Sellers

Alibaba.com share sores 1-week high after Alipay progress

Chloe Sues B2B Website for Enabling Counterfeit Sales

Softbank Alipay Alibaba Progress Towards Settlement