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Ecommerce News Today-Indian bankers may lose to Phonepe supported by Google and Wal-Mart

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1. South Korean Internet giant Naver aims to become Japan's largest search engine and e-commerce platform

On December 6th, South Korean Internet giant Naver stated that it cooperates with SoftBank to become Japan's largest search engine and eCommerce platform in the next few years.

According to the sources, Naver's goal is to win 50% of the Japanese search engine market by 2025 and be the No. 1 e-commerce marketplace by 2027.

At present, Naver and SoftBank have tested "SmartStore" in Japan. It is Naver's successful e-commerce platform in South Korea and Japan. Last month, it launched a beta version in the Japanese market. It was scheduled to be officially launched early next year.

2. Hotel Engine receives US$65 million in Series B financing

On December 6th, the US travel technology company Hotel Engine announced that it had received US$65 million in Series B financing. This funding round was led by existing investors Telescope Partners and Blackstone Fund.

This fund will be used to develop the company's global accommodations. Partner network and recruit more employees. In 2019, Hotel Engine was valued at US$150 million after raising US$16 million in Series A financing.

Hotel Engine, located in Denver, USA, was established in 2015 as a travel technology company. As of the third quarter of 2021, its business scope covers more than 40,000 companies and 700,000 hotels in 185 countries/regions and has 550,000 registered members.

3. British e-commerce company OnBuy and PayPal establish a long-term partnership

On December 6th, British e-commerce company OnBuy announced a long-term partnership with PayPal to improve localized payment options and prepare for its international expansion.

According to reports, PayPal will provide OnBuy customers with a new and simplified checkout process through this cooperation. Customers who use PayPal, debit cards, and credit cards to pay can get a simple and safe checkout experience. For sellers, cash withdrawals and transfers will become more convenient and faster, and sellers will be able to use the balance in their PayPal account for purchases.

4. African e-commerce platform Tospino completes its angel financing, post-investment valuation reaches about 1.57 million dollars

On December 6th, Buming Group's Topspin announced that it had completed an angel round of financing led by Huasheng Renhe Capital, with a post-investment valuation of about 1.57 million dollars.

The fund will be used for team expansion, market promotion, and improvement of the warehousing and logistics supply chain system. The company's B2B platform has accumulated 26,000 buyer users, and the B2C platform has 100,000 buyer users. The average daily parcel volume is 3,000. The B2C platform's GMV has increased by more than 170% year-on-year.

5. Russian e-commerce company Ozon plans to enter the Italian market in 2022

On December 6th, Russian e-commerce company Ozon announced entering the Italian market in 2022. Therefore, Ozon will go online and conduct business in Italy next year and hopes to enter by June 2022.

Alexander Shulgin added that Ozon hopes that local Italian companies can sell goods directly on its platform. Ozon will provide logistics services for goods shipped to Russia to meet Russian consumers' demand for "Made in Italy" products.

6. eBay: A small number of user accounts were accidentally "frozen"

On December 6th, eBay replied that a small number of user accounts were accidentally "frozen," and the problem has been resolved. Previously, according to The Verge report, eBay inadvertently "frozen" an unknown number of users on December 3rd.

The platform has since acknowledged the issue and pointed out that users who were accidentally "frozen" have been notified so that they can resolve the issue. Some users said that although they did not deliberately violate any rules on the platform, they were suspended by eBay on Friday. Some users claimed that they did not obtain further information when contacting eBay customer service.

7. Kotak: Indian bankers may lose to Phonepe supported by Google and Wal-Mart

According to Uday Kotak, as Google Pay and Wal-Mart-backed Phonepe strengthen their control over India's retail digital payment network, Indian bankers are facing the risk of losing most of their traditional business to global technology giants.

Kotak, the founder and CEO of Kotak Mahindra Bank, stated that banks need to scale up their technology and focus on customers instead of a sales-centric approach.

According to the Bloomberg Billionaires Index, Kotak, with a net worth of $16 billion, is the wealthiest banker globally.

8. Messenger launched group collection feature

On December 5th, Meta's instant messaging application Messenger launched a new feature: Split Payments.

It is convenient for users to split bills evenly with friends or group chat users. This function is similar to the "group collection" in WeChat. Users can freely choose the payment recipients, and the system will automatically calculate the amount of each person's bill.

Users only need to click the "Get Started" button in the group chat or go to Messenger's payment center to enter. The user can set whether the payment recipient includes himself and edit the text displayed in the payment message. After sending it successfully, everyone in the chat can view it.

9. Brazil's central bank will launch a digital currency pilot in 2022

On December 3rd, the President of the Central Bank of Brazil, Roberto Campos Neto, said that the Central Bank of Brazil plans to launch a digital currency pilot in 2022.

It is expected to launch the final version in 2024. In addition, Roberto Campos Neto also stated that the Brazilian Central Bank is discussing a plan to regulate digital assets as an investment tool.

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  • Integration with 1200+ carriers.
  • Access the best discounts for USPS, DHL, UPS, and more.
  • KeyDelivery is free for 500 shipments each month.
Sign Up Free Contact Sales