The Chinese internet giant started allowing shoppers in Europe to pay for purchases on its international e-commerce platform only after receiving their merchandise, in an attempt to boost global sales as growth at home slows. This week, a fintech company called Splitit Payments said it would join with Ant Group’s Alipay to provide a delayed-payment option to customers of AliExpress, an online marketplace operated by Alibaba outside of China.
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Alibaba seeks to boost sales abroad with buy now, pay later
Under the Splitit-Alipay tie-up, a hold will be put on shoppers’ credit cards when they make purchases on AliExpress. After customers confirm receipt of their goods, the money will be transferred to the sellers. Shares of Splitit closed 22% higher on Monday, while Alibaba’s Hong Kong-listed shares were little changed.
