Business Intelligence on Retailing, Franchising, and Consumerism in China

Wal-Mart To Provide Financial Services In 80 Chinese cities

Wal-Mart has reached a strategic cooperation agreement with the Chinese offline payment provider Lakala to provide financial services to people in 80 cities across China.

With the cooperation agreement, Wal-Mart will be able to provide its customers with one-stop daily payment services, including credit card repayment, payment of public utilities, and mobile phone recharging.

Ruan Mingjiang, Wal-Mart's vice president for retail value-added services and strategies, told local media that Wal-Mart's nationwide launch of the Lakala smart payment terminals is a new trial to meet the diversified demands of modern consumers. The company hopes to continuously improve its services to bring more convenience to its customers.

Sun Taoran, president of Lakala, revealed that so far, more than 90 of Wal-Mart's stores in China have launched the convenient financial services, completing over 50,000 transactions in May, with a total transaction value of over CNY18 million.

Before entering Wal-Mart, Lakala smart payment terminals have been installed in 7-Eleven and the Quik convenience stores belonging to Lianhua Supermarket. At present, Lakala has installed more than 30,000 terminal sites in 60 cities across 18 provinces and handles three million transactions every month.

Be the first to comment on "Wal-Mart To Provide Financial Services In 80 Chinese cities"

Leave a comment

Your email address will not be published.


  Other China News

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco