Alibaba.com launches US credit card for small business owners on wholesale marketplace

The Alibaba.com Business Edge Credit Card, available in the US, rewards businesses for sourcing from suppliers on the platform

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Alibaba.com is launching a credit card in the US. Photo: Handout

Ann Caoin Shanghai

Published: 7:30pm, 6 Sep 2024

Alibaba.com, a business-to-business cross-border e-commerce platform run by Alibaba Group Holding, has launched a credit card targeting buyers in the United States, as the e-commerce giant seeks to attract customers and boost sales there.

The Alibaba.com Business Edge Credit Card rewards small businesses for sourcing from suppliers on the platform, according to the company’s press release on Thursday.

The card, the first of its kind for Alibaba.com, was introduced in partnership with Mastercard and Cardless, a San Francisco-based fintech agency that develops co-branded credit cards. Alibaba owns the South China Morning Post.

The move is part of broader efforts by the Hangzhou-based company to expand its international e-commerce footprint and bring in new users from overseas markets amid slow business growth at home.

Alibaba International Digital Commerce Group – Alibaba’s international e-commerce arm and operator of Alibaba.com – is now the Chinese giant’s fastest-growing business unit. Its revenue surged 32 per cent compared with 4 per cent increase for the whole company in the June quarter, shored up in part by the consumer-facing platforms Lazada and AliExpress.

An Alibaba.com advertisment in Paris. Photo: Handout

The Business Edge card, which carries a US$199 annual fee, is designed to help owners grow their small business and manage finances more easily, according to Alibaba.com.