News

Online e-commerce giant Alibaba considers providing credit services in Brazil

Alibaba Group Holding Ltd. may offer credit to Brazilian businesses that purchase from its website, the Reuters news agency reports.

Alibaba’s Executive Chairman Jack Ma was quoted by the Brazilian newspaper O Estado de São Paulo earlier this week saying that his company wanted to invest in logistics and finance.

In the Mainland, Alibaba offers financial services and lines of credit to businesses, but there is no indication of the form the Brazilian operation may take.

Alibaba commenced operations in Brazil in 2014, Reuters says.