Walmart Inclined To Accept Alipay In China

Wal-Mart, Inc. is one of the largest retailers in the world. The company gives very tough competition to Amazon, Target, and Best Buy, in the domestic market; however, it is still struggling to make an impact in the international market. It has not yet made much ground on international level; hence, the expansions have not been impactful to company’s performance so far.

The biggest online market after United States is China and Wal-Mart seeks to make its mark there. Therefore, in an attempt to grow in China, it plans to join hands with Alibaba, the Chinese e-commerce giant.

Reportedly, Wal-Mart has joined hands with Alibaba Group in an attempt to bolster its international market presence, specifically in the China market. It is believed that the US-based brick and mortar store company entered China even before Alibaba made its existence in the world.

The company was expanding rapidly in order to make itself the biggest brick and mortar chain in the world. However, expansions have not quite helped the company and it is mostly reliant to its US Wal-Mart stores and maybe online sales.

As the company owns a store in China as well, it has collaborated with Alibaba, which is the dominator of the Chinese market. The online payment service of the company, AliPay, is one of the most used methods to make online or in-store transactions. Hence, Wal-Mart will now allow its customers to pay for their products and items through AliPay.

It believes that this action will be a step forward for the company in the Chinese market. Moreover, it believes that this will allow more customers to come in and shop – a new way to attract Chinese shoppers.

The spokeswoman of the company, Marilee McInnis, told Fortune, “Alipay will help us serve our customers better by allowing mobile payment in seconds. Increasingly, our customers want convenience.”

As Fortune reports, the company has planned to open at least 115 new stores in the region by the end of 2017. This would result in the store locations within the country to more than 530 which is a big number considering its market presence.

If people consider the region where Wal-Mart dominates, it has 5,200 stores in United States and its surroundings. The CEO of the company believes that it has taken a very good step, which will result in solidifying a foundation for long-term growth in the region.

Apart from Wal-Mart, Alibaba also seeks to benefit from this partnership, as it is constantly tapping the US market for years now.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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