AliExpress.com, Western Union in new payment option
Jeddah, August 3, 2011
The Western Union Company, a leader in global payment services, and Alibaba.com, a global leader in business-to-business e-commerce, today launched a new service that enables entrepreneurs to buy goods sold online via AliExpress.com and make cash payments through participating Western Union Agent locations.
Under an agreement signed between Alibaba.com and Western Union, millions of entrepreneurs around the world can now make on-line purchases via AliExpress.com and use Western Union’s global walk-in cash payment solution for settlement.
Western Union and AliExpress expect it to become a key payment platform option in emerging or otherwise under-served markets such as Latin America, Eastern Europe, Middle East and Africa where entrepreneurs have limited payment options and rely on cash transactions to sustain and grow their businesses, said a statement.
AliExpress.com is Alibaba.com’s transaction-based e-commerce platform geared for buyers seeking fast shipment of small quantities of goods.
The service will allow registered buyers to place orders directly through AliExpress.com and opt to pay cash at Western Union Agent locations in more than 160 countries and territories. Funds will be held in escrow by AliExpress.com and released to sellers upon buyers receiving their goods.
Jean Claude Farah, Western Union’s senior vice president for the Middle East and Africa, said: “This global agreement brings together Western Union’s unparalleled extensive urban and rural agent network and Alibaba.com’s highly advanced e-commerce platform, which will assist the SMEs in the Middle East and across the world to better manage their cash flow and respond quickly to market needs. SMEs will not only benefit from expedited payments through Western Union but also real time notification, transaction tracking and strengthened reliability offered by AliExpress.com.” – TradeArabia News Service