Alibaba.com has launched a new service in which it does more of the legwork involved in cross-border trade.
For products sourced through Alibaba Guaranteed, which was officially launched Thursday (June 6), the global B2B eCommerce platform fulfills the orders itself and handles finance, the company said in a Thursday press release.
“Alibaba Guaranteed marks an exciting new chapter for [small and medium-sized businesses (SMBs)] and global sourcing as it will help to redefine the fulfillment standard of B2B cross-border trade,” Kuo Zhang, president of Alibaba.com, said in the release.
Alibaba Guaranteed offers products at fixed prices, with shipping fees included; dispatches goods within 72 hours; and guarantees delivery by the expected date, according to the release.
The platform also handles finance, such as escrow and payment terms, and provides after-sales services, such as quick money back when there are issues with orders and free local returns when there are defects, the release said.
Alibaba Guaranteed is designed to solve three common concerns SMBs have when it comes to online global sourcing: delivery time, logistics costs and worries about not receiving products, per the release.
Alibaba.com currently serves more than 48 million SMB buyers and has more than 200,000 suppliers on its platform worldwide, according to the release.
“Global sourcing can be a complex process with many moving parts, but Alibaba Guaranteed can help [SMBs] navigate it with greater ease,” Zhang said in the release. “With much of the legwork being done for SMBs by the platform, cross-border trade can be as simple as purchasing a pair of shoes from your favorite retailer online.”
Embracing the future of digital procurement is top of mind for buyers and suppliers across industries, PYMNTS reported Thursday. By providing centralized platforms where businesses can search for products, compare prices and place orders in a matter of clicks, digital B2B marketplaces reduce administrative burdens and allow procurement teams to focus on more strategic tasks.
Alibaba said in May that online shoppers’ spending habits depend heavily on how trustworthy they feel the platform is.
“Our investments in … elevating the user experience have received positive consumer feedback,” Alibaba CEOEddie Wu said May 17 during the company’s quarterly earnings call.
We get a lot of press releases here at PYMNTS. We consider all of them, and some are more newsworthy than others. But this one really got our attention. This past week, Diebold Nixdorf made headlines with its announcement of successfully installing two new automated teller machines (ATMs) at the U.S. National Science Foundation’s McMurdo Station in Antarctica. This achievement marks a significant milestone in banking accessibility, to be sure. We would like to meet the crew that installed them. We’d also like to know why they needed two. Was there a line at the first one? More to come on that.
According to Diebold, McMurdo Station is Antarctica’s largest research and logistics hub, supporting a fluctuating population that ranges from fewer than 200 residents during the winter months to up to 1,100 individuals during the summer (October through February). The presence of these ATMs is crucial, it says, as the next closest banking facilities are thousands of miles away, making them the only ATMs on the entire continent. How’s that for a value proposition?
The DN Series ATMs are designed for always-on availability. And why do they need two? One ATM is actively in use, while the second serves as a backup for spare parts, ensuring uninterrupted service in this isolated area. These machines are connected to the DN AllConnect Data Engine, which leverages Internet of Things (IoT) connectivity, machine learning, and artificial intelligence (AI) to monitor their performance. A dedicated team continuously aggregates and analyzes technical data to identify potential issues, enabling remote diagnostics and repairs. The ATM can be maintained by trained staff at NSF McMurdo Station, or the Diebold Nixdorf service team can remotely guide them through the repair process.
Anyway, it got us thinking. Are there other surprising ATMs in extreme locations? Well, of course, there are. Here’s a sampling of what we found.
At an altitude of about 5,364 meters (17,600 feet), the Mount Everest Base Camp in Nepal is another unexpected place to find an ATM. Although it’s not a permanent fixture and is often set up seasonally, it caters to climbers and trekkers who need cash for local transactions. This temporary ATM service underscores the adaptability of banking services in extreme environments.
In some parts of the Amazon rainforest, particularly in Brazil and Peru, ATMs can be found in small villages and towns. These machines are vital for local communities, providing access to cash in areas where digital payment options might be limited. The presence of ATMs here demonstrates how banking services can reach even the most remote communities.
Located in the Tibet Autonomous Region, Nagqu is home to one of the highest ATMs in the world. This region is very remote, with limited infrastructure, making the presence of an ATM a notable example of banking accessibility in extreme environments.
In the Thousand Islands (Kepulauan Seribu) off the coast of Jakarta, Indonesia, there’s a floating ATM. This unique ATM serves the local community and tourists on the islands, demonstrating how banking services can adapt to isolated marine environments.
Longyearbyen, the administrative center of the Svalbard archipelago in Norway, boasts the most northerly ATM. This location is one of the most remote inhabited places on Earth, with limited access to mainland Norway, making the ATM a vital service for residents and visitors.
On a more serious note, the installation of ATMs in places like Antarctica and other remote locations highlights the evolving nature of banking technology. With advancements in IoT, AI and remote diagnostics, it’s becoming increasingly feasible to provide banking services in areas previously considered inaccessible. As we look to the future, it will be interesting to see where else ATMs might appear. Whether it’s on a remote island, at the top of a mountain or even in space, the ability to access cash is becoming more universal than ever. And who knows? Maybe one day, we’ll see an ATM on Mars, serving the first interplanetary travelers.
For now, the presence of ATMs in unexpected places reminds us that banking is not just about transactions; it’s about connecting people and communities across the globe, no matter how remote they might be.
