Business platform extended to Individuals in China

[img_assist|nid=8139|title=|desc=|link=none|align=left|width=100|height=59] ”China TrustPass for Individuals” product was recently introduced by Alibaba.com Limited, the world’s leading B2B e-commerce company for suppliers and buyers trading domestically in China. Previously only corporate users could become members of China TrustPass. Now individuals may also take advantage of the service which is available on Alibaba.com’s Chinese-language online marketplace.

Before becoming the China TrustPass member a customer needs to pass a third-party authentication and verification process. During the procedure applicants provide their identity card and bank information. Upon having authorized a new member, Alibaba.com will maintain an online trust rating for individuals to build confidence and credibility with potential buyers.

Original China TrustPass service was first introduced by Alibaba.com in 2002 and as of March 31, 2008 had more than 280,000 paying members. A membership cost amounts to RMB2,300 per year while corporate membership costs  RMB2,800 at present time.

”Starting up a new business and trading over the Internet has never been easier and more affordable for entrepreneurs,” said David Wei, CEO of Alibaba.com. ”Alibaba.com has always been a pioneer of trust and safety on the Internet and we believe that a reliable trust system for individuals as well as corporate e-commerce users is essential. China TrustPass for Individuals will help entrepreneurs build credibility and open up new business opportunities.”

”The launch of this new product is in line with our strategy to further expand and monetize our fast growing China marketplace. We believe there is strong demand for this product in China as seen by the positive reception it has received during the pre-launch sales period,” he added.

With the help of China TrustPass for Individuals more entrepreneurs in China will be able to conduct their business by significantly lowering the start-up costs and entry barriers to running an online storefront and finding potential buyers.