Digital Payments
Globally, Alternative Payment Methods (APMs) inched past card payments for the first time ever with 51% of market share.
It is also likely eWallets will overtake credit cards in the global eCommerce market by 2019.
Alibaba Europe
China’s Alibaba Group has ankled two managing directors for its European expansion. Sébastien Badault is now the managing director of Alibaba Group France, and Terry von Bibra is now managing director of Alibaba Group Germany.
Alipay Bonanza
More than $5 billion of GMV was settled through Alipay on Alibaba’s China and international retail marketplaces in the first 90 minutes of the Global Shopping Festival yesterday.
Alibaba Omni-Channel
Beijing-based Alibaba Group disclosed its omni-channel retailing plans for the 2015 11.11 Global Shopping Festival. This year, more than 1,000 retail brands, with 180,000 stores in 330 cities across China, will participate in this year’s 11.11 Global Shopping Festival. In Beijing alone, more than 8,000 stores will join the 11.11 festival.
Payscout & Alibaba
Los Angeles-based Payscout has inked an agreement with China’s Alibaba Group, under the terms of which Payscout will provide global payment logistics for Tmall,
Flipkart & FX Mart
The recent Flipkart-FX Mart partnership is reminiscent of the relationship between Chinese e-commerce giant Alibaba and Alipay, a third party payment platform.
Alibaba Q2/15
Gzhou-based Alibaba reported second quarter GMV grew to US$109 billion, a year-on-year increase of US$28 billion or 34.6% year-on-year (YOY).
Mobile GMV reached US$60 billion, an increase of 125% year-over-year, and accounted for 55% of total GMV transacted in its China retail marketplaces.
Alibaba & Suning
Ngzhou-based Alibaba and Suning Commerce have inked a deal wherein Alibaba will invest approximately RMB28.3 billion (US$4.63 billion) for a 19.99% stake in Suning, one of the largest consumer electronics retail chains in China. After the closing of the investment in Suning, Alibaba will be the second-largest shareholder in the company.
School Spending
Overall, parents anticipate spending an average of $1,239 this back-to-school season, up 8% from 2014, and up 24% since 2011. Technology for classroom use is a significant contributor to the added costs, with 82% saying their children use tech for learning (vs. 77% in 2014), including the following:
PosPal + PowaPOS
PosPal, a product of China-based technology service company Zhundong Network Technologies is integrating with Powa Technologies. PosPal is currently used by more than 200,000 merchants and is now available with PowaPOS on both iOS and Android operating systems.
Cyber Shoplifting
Chargebacks911 says cyber shoplifting is the reason behind a freeze on new hires by Alibaba. The Company says it is seeing a rise in friendly fraud, and this inherently suggests that more and more consumers are lying to convince their bank to file a chargeback.
Alibaba Q1/15
China’s Alibaba Group posted its strongest quarter to-date with revenue soaring 45% YOY, driven by gross merchandise volume (GMV), annual active buyers, and mobile. The Company also named Daniel Zhang, currently COO to become CEO, effective May 10th.