Digital payments platform WorldFirst has partnered with Walmart to let eCommerce sellers based in China collect funds from Walmart Marketplace.
“This partnership with Walmart further strengthens WorldFirst’s international digital trade ecosystem, which includes marketplaces, logistics, customs brokers, and other trade service providers,” the company said in a Wednesday (Aug. 7) news release. “This ecosystem broadens businesses’ access to essential resources needed to succeed in overseas markets.”
According to the release, this new digital payment collection service will provide online sellers with added security and compliance, with funds deposited straight into a merchant’s World account, with no service charges.
In addition, WorldFirst’s “Global Voyage Program” lets merchants quickly set up their store — in as little as a day — with no monthly fees.
WorldFirst also recently introduced a solution to help small businesses speed cross-border payments. WorldTrade, announced in April, is designed for small and medium-sized enterprises (SMEs) that procure products from suppliers based in China.
“The launch of WorldTrade aims to build trust in B2B trade through digital means,” Ma Qisheng, head of global B2B business at WorldFirst, said in a news release.
“WorldTrade facilitates intelligent payment processing aligned with agreed trade terms, minimizing trade barriers and streamlining global business interactions.”
In other Walmart news, PYMNTS wrote last week that the retail giant and its rival Amazon were looking to improve their margins through digital media sales by courting potential advertisers.
Walmart announced recently that its warehouse club chain subsidiary Sam’s Club’s Member Access Platform (MAP) is launching display ads within its Scan & Go feature, making it the first retail media platform to introduce advertisements via a mobile self-checkout app. The company says its aim is to offer advertisers a way to reach consumers at the highest-intent moments.
“This new capability reflects our member obsession and commitment to ensuring ads reach the right members at the right time in their shopping journeys,” Diana Marshall, the warehouse club chain’s executive vice president and chief growth officer, said in a statement. “Creating a closed loop, omnichannel advertising experience enables us to better understand member shopping behavior and ad performance, ensuring we keep the member experience at the forefront while helping our advertisers achieve their objectives.”
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