eCommerce firm Alibaba.comhas launched a new eCommerce platform AliExpress, which offers smaller-quantity orders, instant online transactions and an escrow service to protect buyers and sellers.
Alibaba.com said that it will invest more than $100m in the development of AliExpress to ensure it delivers the features and services that will help small businesses succeed.
According to Alibaba.com, the Escrow payment protects users who transact online at AliExpress by holding the buyer’s payment in a separate account and alerting the supplier that payment has been made so they can safely ship the goods. Once the buyer has received the goods, the payment is released to the supplier, enabling them to ship their goods.
Alibaba.com launched a beta test of AliExpress in September 2009. Currently, there are more than three million listed products from more than 40 consumer products categories, the company said.
David Wei, CEO at Alibaba.com, said: “AliExpress is designed to help even the smallest businesses to be more competitive because they can offer customers more unique products, at better prices through the benefits to global trade.
“As we previously announced, we believe that small businesses are the key drivers to economic growth and stability as well as job growth. AliExpress is one of many offerings planned to help small businesses grow and create jobs in their communities all over the world.”
