Tag: E-commerce

Shah Alam, Malaysia — Razer Merchant Services (RMS), the B2B arm of Razer Fintech, has joined hands with Discover Global Network, the payment brand of Discover Financial Services, as the first acquirer to enable Discover Global Network card acceptance at online merchants in Malaysia.

Through this partnership, RMS is setting the stones for its future goal of enabling 2000 e-commerce merchants in Malaysia to accept Diners Club International, Discover, and other affiliate network cards for online transactions by next year -2023.

RMS is taking calculated steps to ensure a potential lead in the future, as according to a report; e-commerce payments in Malaysia is estimated to increase at a Compound Annual Growth Rate of 18.3% from RM28.5b, or $7.1b in 2021, to RM55.7b, or $13.8b in 2025.

By enabling the card scheme, local merchants would access a significant global customer segment with a diversified payment acceptance as the e-commerce industry continues to experience increased growth.

This collaboration offers a strategic advantage for RMS merchants to tap into the billion-dollar market with Discover Global Network and reach more than 280 million cardholders worldwide.

Lee Li Meng, CEO of Razer Fintech, said, “This partnership cements RMS’ continued leadership in enabling a plethora of comprehensive payment channels for our online merchants, thus, providing diverse payment options for their customers.”

Meng added, “RMS merchants can further expand their business reach by casting a wider net in the regional and global market as we look to replicate our offerings with Diners Club International and Discover across Southeast Asia.”

Meanwhile, Jonathon Gould, regional managing director for global acceptance of Discover APAC, shared, “This partnership between Razer Merchant Services and Discover is pivotal in expanding the Malaysian e-commerce market to our global partners. We are committed to continuously providing great benefits and convenience to our cardholders around the world by offering options to make online payments more seamless across borders.”

Sydney, Australia – Travel and leisure e-commerce platform Klook, reveals its latest data on the bookings they received since the start of 2022 which makes Victoria the number one destination for inbound tourists representing over 48% of bookings.

Klook data shows that Victoria is the number one destination for inbound tourists, representing over 48% of bookings while New South Wales and Queensland trail at 20% and 16% respectively. New South Wales has been toppled by Victoria as the most popular Australian state for overseas travellers to visit. 

Co-founder and COO, Eric Gnock Fah at Klook heads to Sydney for the Australian Tourism Exchange to share the news. 

According to their data, Melbourne is the top choice for Singaporeans. This renewed interest in Victoria has been driven by Singapore, which has been leading the way for the rebound of international travel to Australia. Tourism Australia research has shown that Singapore flight bookings are up 207% against the same period in 2019.1 79% of activities and experiences booked on Klook from overseas customers since the start of 2022 have been from Singapore, with growing interest from Malaysia and Thailand.

These travellers from Southeast Asia are booking more tours and activities over attractions, revealing that they desire nature and wellness over urban hotspots. Some of the most popular experiences booked are the Great Ocean Road tour, Yarra Valley tour, Phillip Island Nature Parks Penquin Parade and Blue Mountains Scenic World reflecting how they have been craving for a taste of Australian culture and its beautiful nature.

Fah will be touching down in Australia for the first time since 2019 to attend the Australian Tourism Exchange as part of Klook’s ongoing efforts to support Australia’s cross-border travel recovery and bolster the reinvigoration of Australia as a leading travel destination in the Asia Pacific.

Manila, Philippines – Alternative payment tools have emerged as mainstream for e-commerce payments in the Philippines and accounted for 30.7% in total e-commerce value in 2021. This was according to the latest data from data and analytics company GlobalData.

According to the data, the share of alternative payments in the total e-commerce payment value in the Philippines stood at 30.7% in 2021, up from 21.0% in 2017. Alternative payments were followed by cash and payment cards, which accounted for 29.8% and 23.5%, respectively.

In addition, the Philippines’ e-commerce payment market is crowded with several domestic and international alternative payment solution providers with GCash, Maya , PayPal, and GrabPay leading the space. According to a previous 2021 financial services consumer survey, GCash alone accounted for 18.2% share of the total e-commerce payment value in 2021.

Nikhil Reddy, payments senior analyst at GlobalData, said, “Although ‘cash on delivery’ continues to remain one of the preferred payment methods for Filipinos, alternative payment solutions have surpassed cash to become the most preferred payment tools for e-commerce purchases over the last few years. This is supported by the rising internet and smartphone penetration, growing consumer preference and rising merchant acceptance.”

He added, “The COVID-19 pandemic has pushed the adoption of e-commerce payments in the country, as wary consumers increasingly favoured online shopping to avoid getting exposed to disease vectors. This has also benefited alternative payment tools, with consumers citing convenience, speed, and reward benefits as key factors.”

The rise of alternative payment methods allows the e-commerce market in the Philippines to grew at a compound annual growth rate (CAGR) of 19.8% between 2017 and 2022, is expected to further grow at a CAGR of 15.8% over 2022-25 to reach PHP495.2b (US$9.7b) in 2025.

“While alternative payment tools lead the Philippines e-commerce payment space, they are also now increasingly being used for in-store payments. With the growing adoption of QR code-based solutions among merchants and government initiatives to push electronic payments, alternative payments are poised to disrupt the country’s overall consumer payments space,” Reddy concluded.

Singapore – Singapore-based social platform for sustainability, abillion, has launched a new peer-to-peer e-commerce feature for buyers and sellers to interact and transact online with a conscious shift in focus from revenue earned to resulting impact.

abillion is a global digital home to sustainability and plant-based natives. Its sellers set aside a percentage of their revenue to be donated to impactful causes. The buyer then dedicates this sum of money to one of the platform’s more than 60 non-profit partners.

The new feature will be first enjoyed by members in Singapore. They will be able to list sustainable products via the marketplace tab, which is found on the navigation bar at the bottom of the app, Meanwhile, buyers will be able to see the impact of each purchase they intend to make from the starred green value, which is found on the right hand side of each listing.

Vikas Garg, abillion’s CEO and founder, shared that their goal is to become the world’s leading catalyst driving sustainable entrepreneurship and conscious consumerism, powering the growth of the sustainable sector.

“We know that in the near future, everyone will care about sustainability and our planet. abillion will be at the centre of this, acting as the go-to information and digital superhub for all. Here, regardless of whether you’re a buyer or a seller, you will be able to measure the positive impact your transaction has on the world. Through this, we will be able to eat, shop and live our way to a brighter future,” said Garg.

The platform said that it is planning to launch the marketplace by the year-end of 2022 to its largest markets, including Australia, Canada, Germany, Italy, and Spain, as well as the UK, and the US.

Kuala Lumpur, Malaysia – Car e-commerce platform Carsome has announced the acquisition of the businesses of WapCar and AutoFun. Upon the completion of the acquisition, Carsome set up the parent company, WapCar AutoFun Sdn Bhd (WapCar), as a fully-owned subsidiary of the Carsome group in Malaysia.

WapCar first established its first flagship brands, WapCar and AutoFun in 2019. Today, it operates a number of automotive content websites and social media channels across Malaysia, Indonesia, Thailand, Philippines and Vietnam. WapCar provides a full range of content which covers car exploration, transaction, and ownership experiences, using industry-leading technology to help customers in Southeast Asia find their perfect car and immerse themselves in all things related to automotive. 

The platform also produces, distributes and manages highly-engaging professionally generated content (PGC) and user generated content (UGC) at scale.

According to Eric Cheng, co-founder and group CEO at Carsome, WapCar has built a strong automotive content strategy in Southeast Asia, liked by a large and engaging customer base. He added that the partnership will enable Carsome to capture and serve customers from their early stage of car exploration and bring a more engaging and fun experience to the car transaction and ownership journey.

“We are thrilled to announce the partnership with WapCar and a team with seasoned expertise in the content space. We believe our collaboration through content, technology and data will augment our ability to bring trust, transparency and choice to customers together,” he said.

Meanwhile, Sting Peng, general manager at WapCar, commented, “We are excited to work with Carsome to collectively provide a smooth car buying and selling experience to millions of WapCar users on our platform across the region, as well as an end-to-end solution in their car transaction and ownership journey.”

Singapore – The Consumers Association of Singapore (CASE) has signed a memorandum of understanding (MoU) with Nanyang Polytechnic’s Singapore Institute of Retail Studies (NYP-SIRS) to develop a new CaseTrust accreditation scheme for e-commerce businesses, which will serve as an industry benchmark for e-commerce businesses in Singapore which are committed to fair and transparent business practices.

The new CaseTrust accreditation scheme will cover the entire range of e-commerce practices from pre-sale to post-sale, and address common consumer pain points when shopping online. These include factors such as ethical advertising, price transparency, good sales and aftersales service, and business integrity.

As part of the MOU, NYP-SIRS will also assist to develop a one-day workshop to give e-businesses an overview of what the accreditation scheme entails and the corresponding assessment criteria; and curate one-on-one mentorship programmes for e-businesses to help them identify and address gaps in the consumer experience they are offering online, before guiding them through the accreditation application process.

According to Melvin Yong, president at CASE, there have been more businesses that have set up retail websites or online shop to cater to the growing number of consumers shopping online. Unfortunately, the low barriers of entry, coupled with the lack of minimum service standards, have led to an increasing number of complaints against e-businesses. 

“Currently, there is a lack of a comprehensive accreditation scheme that encourages and guides e-businesses to adopt fair-trading practices and safeguards the interests of online shoppers. With this new CaseTrust accreditation scheme, we want to put in place a framework whereby consumers will be able to recognise e-businesses that have adopted the requisite e-commerce standards and consumer-friendly practices. Ultimately, we hope that consumers can have an assured and positive experience when shopping online,” Yong said.

Meanwhile, Jeanne Liew, principal and CEO at NYP, commented, “As Singapore’s e-commerce industry continues to grow, there is a need for industry accreditation and certification to remain relevant for retailers and consumers alike. NYP-SIRS provides market-driven retail training programmes to support the growth of retailers and keep up with the rapidly evolving e-commerce industry. We are glad to partner CASE to co-develop the CaseTrust accreditation scheme for e-businesses and the training programmes to help e-businesses identify and address the gaps in their business practices to become more consumer-friendly.”

Bengaluru, India – Digital commerce giant The Flipkart Group has announced the launch of Flipkart Labs, to build and create technology-based solutions and plans to foray into Web3 and Metaverse. Based out of its headquarters in Bengaluru, India, Flipkart Labs will fast-track an in-house innovation capability with a vision to propel and shape the future of customer-centric e-commerce in India

The company said the Innovation Lab will enable Flipkart and its group companies to test exciting new Web3 and Metaverse use-cases with real-world applications, including NFT-related use-cases, and Virtual Immersive Storefronts, Play to Earn, and other Blockchain-related use-cases. 

The Innovation Lab will also serve as a vehicle for innovative research across areas including redefining customer experience, logistics/supply chain, and accelerating digital commerce in the future. Flipkart Camera, formed after the acquisition of AR/VR startup Scapic in November 2020, has since deployed multiple 3D and Augmented Reality-based immersive shopping experiences and will continue to mature under the newly formed Flipkart Labs umbrella. 

Jeyandran Venugopal, chief product and technology officer at Flipkart, said that Flipkart innovation in e-commerce in India made it an integral part of their lives. This has been possible with many innovative initiatives over the last decade such as Cash On Delivery (CoD), Easy Returns, No Cost EMI, and more. 

“As we continue to grow and experiment, we will operate at the intersection of business and technology to make innovation real and relevant for customers. With Flipkart Labs, we are looking at strengthening our in-house innovation capabilities by carving out a dedicated, entrepreneurial team and look forward to bright and curious minds joining us to transform the way India shops,” Venugopal said. 

Flipkart Labs will be housed in the Product Strategy & Deployment (PSD) arm of the Flipkart Group and will work with talent building technology solutions in this space. It will also look at potential collaborations beyond the organization with brands, merchants, startups, and technologists. 

Naren Ravula, VP and head of product strategy and deployment at Flipkart Labs, commented, “We are in the early days of a paradigm shift from Web2.0 to Web3.0 and this evolution of the web/internet built on the concepts of decentralization, openness, and greater user utility, will have a profound impact across many areas including e-commerce. 

“Web 3.0 is poised to play a strong role in India`s digital acceleration. We are committed to the growth of the e-commerce ecosystem in India and Web 3.0 leverages the best of the latest technology like blockchain for real-world use cases that can digitally transform businesses like ours,” Ravula added.

Paris, France – Global advertising agency and public relations company Publicis Groupe has announced the acquisition of Profitero, a global SaaS e-commerce intelligence platform. Through the acquisition, Publicis Groupe will combine Profitero’s industry leading product data and analytics with the Groupe’s retail media, data, and commerce solutions to offer unmatched capabilities for brands to maximise their online sales.

Profitero’s solutions provide actionable insights and product visibility to more than 4,000 brands and 70 million products on more than 700 retailer websites, in over 50 countries every day. 

In addition, said acquisition will allow Profitero to access the necessary resources and capabilities to expand on its analytics core. As a result, it will become the first global commerce platform to truly empower brands by using predictive intelligence to deliver the best product experience, optimise content, increase results of organic search, compare prices with competitors, monitor product availability and track customer ratings and reviews, among other features.

“As the lines between offline and online shopping blur due to digitally-influenced sales, Profitero’s ecommerce and omnichannel analytics offering allows brands to anticipate, activate, and automate the next best action to fuel profitable growth for each item of their product catalogue,” Publicis Groupe said in a press statement.

Profitero will remain a product-focused company within Publicis, led by CEO Bryan Wiener and president Sarah Hofstetter. Wiener will report to Publicis Groupe Chairman and CEO Arthur Sadoun.

Sadoun said, “By adding Profitero to our existing assets, we are now uniquely positioned across the four key pillars our clients need to connect, to capture an unfair share of the exponential growth in online sales. With us, our clients will seamlessly understand people, how they shop better than anyone else, thanks to Epsilon; optimise their online product catalogue thanks to Profitero; maximise their online spend with retailers thanks to CitrusAd and the scale of Publicis Media.”

He added, “And they will be able to deliver unique, creative, customer experiences, through platforms backed by Publicis Sapient’s engineering expertise. I am delighted to welcome Sarah, Bryan, and their outstanding team of experts to the Publicis family.”

Meanwhile, Wiener commented, “This is the best of both worlds as we retain our entrepreneurial spirit as a product-led organisation while benefiting from the Publicis Groupe’s diverse capabilities and scale. This brings immediate value to our clients and employees with increased product and technology investment, infusion of new media and content activation capabilities and tapping into the Groupe’s global talent to fuel our continued growth.”

Sydney, Australia – Shoppers in Australia and New Zealand are reported to spend less and be more selective in prioritising essentials during their online purchases, a report by BigCommerce, an open SaaS e-commerce platform.

According to the report, 30% of respondents also indicate they plan to decrease their BNPL spend, with 68% doing so to save money for essentials. Furthermore, 79% of shoppers would be likely or very likely to leave a website and purchase elsewhere if a website is too slow.

In addition, credit card as a proportion of last payments made has risen to 39% in 2022, up from 26% in 2020 and 2021. Debit cards have also become more popular as a payment method, increasing from 17% in 2020, to 21% in 2021 and now at 23% in 2022. The majority of purchases made after receiving a marketing prompt came from email (42.1% of respondents), while respondents who made a purchase after receiving an abandoned cart email have also doubled to 32% in 2022.

Shannon Ingrey, vice president and general manager, APAC at BigCommerce, said, “The beginning of the pandemic pushed shoppers online, and now they’re getting more selective with their spending to prioritise saving more. We’re at a point where retailers and merchants need to take an introspective look at their key services to address shopper pain points like website speed and fast delivery time.”

Meanwhile, 40% of respondents indicated they have chosen one retailer over another because of a loyalty program offering, with 69% saying they have used a loyalty program to claim a reward in the last three months. For 77% of respondents, free shipping is the number one preferred perk when it comes to these loyalty programs.

“It’s critical for retailers to ensure they have the right technology and infrastructure in place to prioritise fast, seamless experiences for shoppers. Understanding what consumers think and how they behave on a day-to-day basis will be key to the strategic decision-making of every merchant in 2022,” Ingrey concluded.

Bengaluru, India – Digital commerce giant The Flipkart Group has announced the acquisition of ANS Commerce, a full-stack e-commerce enabler that helps brands sell online. Through this acquisition, Flipkart continues its efforts to strengthen the Indian e-commerce ecosystem by investing in the capabilities of technology enablers that will address the needs of the rapidly growing and evolving digital retail market in India. 

Following the acquisition, ANS Commerce will continue to function as a stand-alone company, led by its current management team.

As of 2017, ANS Commerce has established a full stack of offerings for brands across the value chain, including brand store technology and performance marketing tech and services, marketplace connectors, and storage and facilities maintenance capabilities. Working with companies, mid-market, and D2C brands, supports their move to digital commerce for more than 100 clients.

On their Kartify platform, the company’s product solutions assist brands and enterprises in creating digital brandstores/storefronts, improving return on ad spends, and managing end-to-end logistics and warehousing processes. The D2C segment, which is quickly developing in the Indian market as businesses strive to interact with consumers who demand direct connection, is a significant emphasis for the organization.

Ravi Iyer, SVP and head – corporate development at Flipkart, said that at Flipkart, they are committed to developing and nurturing the internet consumer ecosystem, including developing and encouraging technological innovation that helps drive the Indian digital economy. 

“Our efforts focus on ensuring that businesses, including MSMEs and smaller brands, can leverage the opportunities that e-commerce offers, to provide greater value and deeper experiences for Indian customers who are rapidly adopting digital commerce,” Iyer said.

Iyer added, “Our association with ANS Commerce started last year when they were part of Flipkart’s tech startup accelerator program, Flipkart Leap, and we are pleased to welcome the team to the Flipkart Group.”

Meanwhile, Vibhor, Amit, Nakul and Sushant, co-founders of ANS Commerce, shared, “ANS Commerce was created to enable businesses to leverage the massive opportunity of e-commerce in India. Over the past few years, we’ve seen a dramatic change in consumer behaviour, and as a result, brands have also pivoted in their approach on how to engage with consumers.”

The deal is expected to close in the second half of 2022, subject to customary closing conditions.