Alibaba To Offer Credit Facilities In Brazil

The Chinese ecommerce giant Alibaba is looking to develop its presence in Brazil by offering shoppers credit facilities. It is hoped that by offering the credit service, the spending power of Brazilian consumers will increase. Whilst the specifics of what these credit services are have not been clarified, Alibaba's CEO Jack Ma said that he wants to “invest in ecommerce, logistics and inclusive financing”, adding that Alibaba had successfully operated in the B2C and B2B markets in Brazil in the “last few years”. A recent economic downturn in the country has meant that it has struggled to maintain its high level of growth, but a rise in smartphone use from 19% to 40% since 2014 means that Alibaba may be able to use its mobile experience to grow its presence further.