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Walmart聽has teamed with Chinas聽Meituan聽to fortify its eCommerce business in that country.The partnership will see Meituan provide delivery service for Walmart products and begin featuring the retail giant on its popular app, Reuters聽reported聽Tuesday Dec. 17 , citing a WeChat post by Walmarts China unit.That post added that the collaboration will help Walmart bolster its eCommerce service in Ch stanley water bottle ina, which makes up close to half its sales in that country.The Reuters report notes that Meituan is Chinas largest聽food delivery聽provider, though it also offers services like deliveries of other products, as well as bike-sharing and ticket booking.Jason Yu, general manager at CTR Market Research, told Reuters that Meituan is th stanley termoska e company most consumers in China use for quick delivery, giving Walmart greater visibility from its presence on the Meituan app.According to the report, Walmart in November reported a surge in net sales in China 鈥?from both its flagship store and Sams Club 鈥?jumping 17% to $4.9 billion. Meituan, the report adds, has also seen sales climb as Chinese consumers focus more on low-cost and discounted products. The company last month reported a 22.4% increase in third-quarter revenue to roughly 94 billion yuan $12.9 billion .The partn stanley cup ership comes roughly four months after Walmart聽announced聽it had sold its entire stake in another Chinese eCommerce giant, JD. The American company had owned an almost 10% stake in JD as of late 2023.Walmart聽first purchased shares聽in JD i Nohu UK Neobank Starling Profits Soar 55% for Third Year in the Black
As Sam Cooke sang: Its been a long time comin stanley quencher 鈥?but I know a change is gonna come. Commerce changes slowly, at a glacial pace, it seems, until 鈥斅燼ll of a sudden聽鈥?things are different. Aisles give way to clicks, and cash gives way to plastic, which gives way to digital wallets 8230; and might someday a myriad of buttons give way to a single button Think of eCommerce made intuitive and checkouts made speedy, where security is p stanley fr aramount, yet transactions are friction-free.In the latest Beyond the Buzzword, Rambus CTO Chakib Bouda told Karen Webster that the change is coming via Secure Remote Commerce SRC , though it might take a bit of time. The digital payments technology is, of course, linked to a number of marquee names in payments, such as Mastercard and Visa.The high-level view is that consumers 鈥?weary of names, addresses and phone numbers 鈥?need not enter and re-enter their data at each merchant, for each transaction. Eliminate the friction, the philosophy holds, and merchants can cut down on the shopping cart abandonment.Ah, but to get there is a different matter. Bouda said, Weve neglected 8230; browser-based eCommerce, and now people are focusing a lot on it. SRC, he said, strives to solve an existing problem of interoperability, for consumers and merchants alike.The consumer side of the SRC story might be relatively well-known 鈥?namely, that consumers can be liberated from the aforementioned data entry numbness, where stanley hrnek payment information is standardized throu
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