Consumer

Alibaba, Mastercard to Issue Credit Card for Small Business

Goal is to encourage firms to buy products on web marketplace
Alibaba, struggling in China, is keen to boost global business

WATCH: Alibaba.com President Kuo Zhang speaks about the company’s first co-branded US credit card.Source: Bloomberg

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By Spencer Soper

September 5, 2024 at 6:00 PM UTC

Updated on

September 6, 2024 at 2:32 PM UTC

This article is for subscribers only.

Alibaba Group Holding Ltd. is planning to release a US credit card with the aim of encouraging small businesses to buy products on the Chinese company’s web marketplace.

Holders of the Business Edge Credit Card, developed with Cardless on Mastercard Inc.’s network, will be able to choose between 3% cash back or 60-day interest-free payment terms for purchases of up to $40,000 on Alibaba.com. They also will have 90 days to request a refund if they aren’t happy with an order.