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Alipay announces initiatives to support SMEs in Wuhan post lockdown

Alipay announces initiatives to support SMEs in Wuhan post lockdown

Alipay, a leading digital lifestyle platform that is operated by the Ant Financial Services Group, recently announced that it has undertaken a series of initiatives to help the small businesses of Wuhan after the city comes out of the COVID-19 forced lockdown. These initiatives will be expanding the coverage to be able to support all the service providers in China as they begin tapping into digital technologies.

Apparently, Alipay has put up a section separately that can be seen on the landing page of the app. This will let all the 900 million users who will be able to easily locate the merchants as well as the products and services that they’ll offer in Wuhan.

The section will allow the orders to be placed directly with the help of the Alipay app as well as enable all the users to access live streams of the tourist places. It will be benefitting all the local merchants that cover tourist sites and restaurants.

Ant Financial’s Chief Executive Officer, Simon Hu commented that the company believes after the pandemic outbreak, the service providers who will be using the power of digital technologies will be the strongest as adverse situations create a brighter future.

Hu continued that the company is dedicated towards supporting SMEs and will be providing the best technology solutions in order to help with the recovery of small businesses as well as prepare them for the future.

Merchants using the platform will be allowed to apply for loans by a campaign called Zero Contact launched by the app and MYbank jointly. MYbank will waive off interest rates for about 360,000 offline micro-merchants located in Wuhan. This will be done for the first month with a chopped down interest rates by at least 20% for the Hubei merchants living outside the city.

Alipay will also be launching a number of incentive programs that will encourage about 1,000 ISVs to support complete digital tool kits to develop solutions for 5 million storefronts.


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Pankaj Singh

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