Here's How Alibaba Is Proving Handy To Cash-Strapped Merchants - Alibaba Gr Holding (NYSE:BABA)

Alibaba Group Holding Limited BABA platforms have processed faster payments during this year's 6.18 Mid-Year Shopping Festival to improve liquidity for merchants during the pandemic, Alizila reports.
"Ensuring the stability of supply chain and logistics amid the uncertainties is the best way to improve consumption sentiment and foster a more positive environment for business operations," said Alibaba Chair and CEO Daniel Zhang during last week's earnings call.
Domestic coffee brand Yongpu Coffee has already received several million renminbi from presale purchases made between May 26 - May 30.
International B2C marketplace Tmall Global freed up to RMB4 billion to their payment accounts as soon as parcels left warehouses between June 1 - June 30.
Alibaba's logistics arm Cainiao has also offered five warehouses around China for cross-border merchants to store their inventories.
In the May presale period, merchants will receive RMB10 billion ($1.5 billion) in deposits made by consumers to secure their orders.
Once shipping starts between June 1 - June 30, the businesses will receive the remaining balance of up to RMB100 billion.
Presales for the annual shopping event started on May 26, with a month-long series of promotional activities across Alibaba's ecosystem.
Price Action: BABA shares traded higher by 4% at $97.15 premarket on the last check Tuesday.
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