Tag: Alibaba

‘Pay With a Selfie’ another mobile service to be launched by e-commerce giant Alibaba

Business, Internet, Mobile, social media
Chinese tech and e-commerce giant Alibaba is developing facial recognition technology which allow consumers to pay by taking a selfie. Reports Conor Gaffey of Newsweek The software, called Smile to Pay, was unveiled on Sunday evening by Alibaba founder Jack Ma at a German technology conference. Ma demonstrated the technology by taking a photo of his face to purchase a 1948 Hannover stamp from Alibaba’s website, according to the South China Morning Post. He said that the product would avoid problems of security and forgotten passwords often associated with online payments. “[Using] online payments to buy things is always a big headache," he said. “You forget your password, you worry about security, today we'll show you a new technology, how people in the future will buy things onlin

Alibaba breaks online shopping records on Singles’ Day

Business, Mobile
Online shopping transactions generated by Chinese e-commerce giant Alibaba Group Holding Ltd ’s annual 24-hour discount event surpassed last year’s record of 36.2 billion yuan ($5.9 billion) Tuesday with still more than 10 hours to go. The figure for this year’s Nov. 11 Singles’ Day—the biggest shopping day of the year when many sellers on Alibaba’s marketplaces offer steep discounts—suggests that the event, as it did last year, will likely generate more online sales than the U.S. holiday shopping dates such as Black Friday and Cyber Monday. The 12th annual Alibaba Singles Day event was the longest — 11 days —and highest-grossing edition of the e-commerce sales bonanza yet. Alibaba Group reported a final gross merchandise volume (GMV) of $74.1 billion. This figure almost doub

Alibaba throws billions at figuring out how to turn mobile into money

Business, Mobile
Chinese e-commerce giant Alibaba may have dominated online retail on personal computers, but is some way from replicating that leadership in shopping by smartphone and other mobile devices. Reports ITWeb Alibaba, which is heading towards a bumper New York IPO later this year, is throwing billions of dollars at figuring out how to thrive as half a billion people, 80% of China's 618 million Internet users, go online via mobile. The Hangzhou-based firm said last month that mobile has become an increasing source of transactions, now accounting for more than a quarter of the value of goods sold across its online marketplaces. But Alibaba's shift to wireless commerce is a double-edged sword: mobile commerce brings in significantly less revenue than traditional e-commerce. The quick-hit