Because it has a lot of real big data, Alibaba has been involved in the transaction services for foreign buyers, such as matching procurement information, endorsing transaction credit, and even financing services for buyers.
In fact, most of the overseas buyers are also small and medium-sized enterprises. Purchasing through the Internet not only needs to solve credit risks, but financing is also a service they need very much. At present, Alibaba’s financing service for international small and medium-sized buyers has a credit sales model. It is based on the buyer’s procurement data, calculates the risk control ratio, and then gives the buyer a certain credit sales quota within this risk control range. If there is a problem with the purchase within this quota, Alibaba will pay first. This has largely solved the financing problem of overseas small and medium-sized buyers. At the same time, Alibaba uses big data to cooperate with overseas banks to provide low-interest credit services to overseas buyers. In the future, Alibaba will also use big data to provide overseas buyers with services including factory inspection and transaction insurance. All of this is based on the accumulation and application of big data.