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Walmart Launches Third-Party Payment Business In China's Shanghai Free Trade Zone

December 15, 2013: 12:00 AM EST
Walmart launched Niuhaidianshang, a third-party payment services company, in the Shanghai free trade zone in China. Walmart transferred its business from Yihaodian, a business-to-consumer ecommerce company it acquired in 2012 and which provides consumers with an online shopping platform. Taking advantage of the free trade zone's liberal policies, Walmart plans to use the new company to compete with third-party payment companies, such as Alibaba and 360buy.
"Walmart taps third-party payment services in China", WantChinaTimes.com, December 15, 2013, © WantChinaTimes.com
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