Baidu (Nasdaq:BIDU) and Rakuten's (Jasdaq:4755) joint business-to-consumer (B2C) online shopping mall is expected to enter internal testing on August 10 and to go online in autumn this year, 163.com reported June 29 citing an unnamed mall employee.
Vendors operating through the online mall will have to pay a deposit of RMB 15,000, compared with a deposit of RMB 10,000 for Alibaba Group's B2C online mall service Taobao Mall, while its technological support fees are also slightly higher, the report said citing a company manual. The service supports online payment tools including Baidu's "BaiFuBao," Alibaba's "Alipay," bank card network China Unionpay and credit card payment, as well as on-delivery payment, according to the report. Rakuten has secured cooperation agreements with 10 package delivery companies on behalf of the mall, said the report.