Chinese Giants Tencent, Alibaba, Baidu Move To Fight Fraud

By  |  June 27, 2013
 | 

Eighteen Chinese Internet companies have banned together with China’s Ministry of Public Security to fight online fraud, The Wall Street Journal reports. Some of the more notable participants include popular online portal Tencent, eCommerce giant Alibaba and search engine company Baidu.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The agreement marks a rare moment of cooperation between Chinese Internet companies and the government, but one that aims to tackle a growing problem. Chinese online shoppers have lost more than $5 billion due to fraud over the last year.

    So far, the companies have established an eCommerce protection framework for shoppers.

    Read the full report here.

    Recommended

    CFO, cash flow, AI

    Best-Run Middle Market Firms Turn Uncertainty Into Advantage

    Stripe Eyes $10 Billion Deal for AI Model Marketplace OpenRouter

    New Jersey, surveillance pricing

    New Jersey Bans Surveillance Pricing and Freezes Digital Shelf Labels

    OpenAI, cap, retail, merchandise

    AI’s Biggest Flex Isn’t a Model. It’s a Cap.

    See More In: