Mobile payments startup QFPay raises USD 20 mln for global expansion

QFPay, a China-based QR code-based payment company, has received USD 20 million in fresh funding from existing investors Sequoia Capital China and Matrix Partners. New investors include MDI Ventures (the corporate VC arm of Telkom Indonesia), Rakuten Capital, and VentureSouq. With this new round of capital, QFPay will continue to expand its presence into its core markets and... Continue Reading →

PayPal targets India’s 450 mln mobile users

PayPal is looking to capitalise on the surging digital payments demand as India’s 450 milion mobile users leap online, Financial Times reports. The US-listed payments company launched a domestic business allowing merchants to process both local and global payments in India in November 2017. To encourage consumers to complete a purchase, PayPal has developed new one-click... Continue Reading →

Facebook, Sequoia invest in India-based startup Meesho

Facebook has announced it is participating in a USD 125 million fundraising for India-based startup Meesho, which is aiming to bring more commerce to social networks. Meesho is what’s known in the tech industry as a social commerce startup, allowing people to build connections online and then sell through services such as Facebook and its WhatsApp and... Continue Reading →

Brazil-based Grupo Boticário to acquire ecommerce platform Beleza na Web

Grupo Boticário had agreed to acquire ecommerce platform Beleza na Web for an undisclosed amount, as part of plans to strengthen its online presence. The move comes as Brazil’s cosmetics market is consolidating. Rival Natura SA agreed in May 2019 to merge with Avon Products to create the world’s fourth-largest beauty company. Founded in 2008, Beleza na Web... Continue Reading →

Club Factory to onboard 10,000 India-based sellers in 2019

Ecommerce company Club Factory has announced an expansion in the Indian market, under which it plans to onboard 10,000 sellers on its platform in 2019. The programme aims to help sellers avail marketing fee waiver and zero commission to achieve 20–30% cost savings as compared to selling on other platforms, the statement said. Club Factory also plans... Continue Reading →

Brazilian ecommerce startup raises USD 2.6 mln in investment round

Brazil-based online supermarket Shopper has raised around USD 2.6 million during an investment round led by Canary. This investment is Canary’s second collaboration with Shopper following the USD 1.1 million investment in June 2019. Shopper is a monthly subscription-based delivery service for nonperishable food items, toiletries, beverages, utilities, and more. It is a process based on consumers’ needs... Continue Reading →

Ecommerce in Poland to reach EUR 11.64 mln in 2019

Ecommerce in Poland is predicted to increase by 25% in 2019, reaching EUR 11.64 million, according to a report by Ecommerce Foundation. If the prediction comes true, it would mean that ecommerce in Poland will account for 2.31% of the country’s GDP. Other key findings of the report: over 61% of the online population (77% of Polish... Continue Reading →

Government of India drafts new ecommerce guidelines

India has proposed a series of consumer safeguards that forbid ecommerce companies to influence pricing or misrepresent the quality of goods and services. Ecommerce companies must self-declare compliance and also provide a way for customers to contact them directly, said the proposed e-Commerce Guidelines for consumer protection 2019, published on the Department of Consumer Affairs website. The... Continue Reading →

Line to launch ecommerce platform called Line Shopping

Messaging app Line has announced it is about to launch an ecommerce platform called Line Shopping, aiming to provide a wide assortment of items from 15 online marketplaces. According to Kasikorn Research Center, Thailand's online shopping market is set to grow at an average rate of 16% a year by 2022. By then, online shopping will account... Continue Reading →

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