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alibaba

phoenix.com technology news: on september 6, beijing time, alibaba group and mastercard have jointly developed an american credit card, hoping to encourage small american businesses to purchase goods on alibaba's online platform.

alibaba said in a statement on thursday that it will launch the business edge credit card this year with an annual fee of $199.cardholders can choose between 3% cash back or 60 days of interest-free payment on purchases of up to $40,000 on alibaba.com, and they can also request a refund within 90 days if they are not satisfied with their order.

zhang kuo, president of alibaba international station, said the credit card issuance is aimed at boosting the confidence of small american businesses to buy goods directly from suppliers, mainly in china, and helping them save costs in a high-interest environment.

at present, alibaba is competing fiercely with jd.com and pinduoduo for market share in china and is eager to expand its international business.last month, alibaba released its financial report showing that revenue in the first quarter grew by only 4%, and its chinese business suffered its first contraction in at least a year. (author/xiao yu)

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