Chinese eCommerce company Alibaba Group Holding Ltd. has reportedly made plans to open up credit services to the Brazil community. On its website, people in the South American country will be able to finance purchases.
While Alibaba began servicing the Brazil area in 2014, it has not had the easiest path. The key issues that have come up on the eCommerce giant’s website are logistics and product authentication.
Alibaba’s Executive Chairman, Jack Ma, commented to Reuters on this new offering in Brazil: “We want to invest in eCommerce, logistics and inclusive financing.”
With this new financing option for Brazilians, Alibaba is likely hoping that its luck will turn around in the country.