By PYMNTS
Alibaba.com will be allowing Pakistani sellers more opportunities to grow their businesses by providing several B2B services, PhoneWorld reported.
The site plans to offer advertising, logistics, payments and daily operations. It will also act as a one-stop B2B provider to boost Pakistan’s eCommerce and exports industry, according to the report.
Alibaba’s stated goal is to make it easier for Pakistani sellers to do business anywhere in the world, per the report. As businesses embrace digitization, having a strong online presence is important.
B2B in Pakistan is expected to grow 28 percent in the next three years, the report stated. Alibaba is aiming to get 30 million online buyers and support over 100,000 sellers online. It is also planning to build its logistics services to transport 1 million units anywhere.
“Pakistan is one of the most important countries for Alibaba.com as the annual growth of Pakistani sellers is more than 64 percent, which shows the potential of the industry,” said Stephen Kuo, head of Alibaba.com, per the report. “We would like to extend our support for the annual growth of the industry as Pakistan is the No. 1 foreign country for Alibaba.com when it comes to local sellers.”
In other Pakistan-related news, QisstPay, the country’s first buy now, pay later (BNPL) platform, has raised $15 million in pre-seed and seed funding rounds. The money will be used to help the startup build out its adaptable, interest-free platform for installments.
Read more: Pakistan’s QisstPay Notches $15M to Grow BNPL Platform
Co-Founder Jordan Olivas said there is a need for this type of service in the country.
“Over 60 percent of Pakistan’s population is under the age of 30, which means that the majority of the country is adopting new technologies,” he said. “Yet so many people still believe that Pakistan isn’t ready to adopt a BNPL system. The rapid growth and use of a platform like QisstPay proves otherwise.”
