Lazada looks to boost financial services as it takes a page from the books of Alibaba
Alibaba-owned online retail firm Lazada is looking to boost its financial services products in a bid to gain an edge in South East Asia's competitive online retail market, the company's CEO told CNBC.
"The next steps are financing, more rewards to our wallets, so we will continue to invest in that direction," Poignant told CNBC in an interview at the Boao Forum in China. Trade financing takes place between exporters, who seek payments for their goods, and importers, who have to pay for the products they order. In conventional trading, a bank provides a letter of credit to the exporter on behalf of the importer, and the money is paid upon delivery of the goods.
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