Southeast Asia E-commerce Business Intelligence
August 30, 2017
August 23, 2017
PUNDI-PUNDI RAISES $4M TO BRING MOBILE PAYMENTS AND MICRO-LOANS TO SOUTHEAST ASIA
Pundi-Pundi, a fast-growing mobile payments and micro-loan startup aiming to create a cashless environment in South East Asia, announced today closing a pre-A round of funding of USD 4 million.
The Company plans to use the funds to fuel the growth of its user base and merchant partners in its home base of Jakarta, and prepare expansion to other South East Asian markets. The funding will also support Pundi-Pundi's growing micro loan business allowing users in the region to have fast access to funds.
Pundi-Pundi, which means "wallet" in Bahasa, aims to boost the development of a cashless environment and access to micro loans in a region that still lacks easy access to cash.[Read more]
March 2017 - Present
Creation of an European Procurement Share Service Center for 1000 Points of Sales of a big Car repair Network.
France & Belgium
April 2017 - Present
Design the 5 years IT orientations which will support a agricultural company's international strategy.
Strategic review for the financial SSC of an agricultural company.
April 2016 - Present
Strategic plan and new Information Systems outlines for the Tunisian postal operator.
Analysis of the market and its players for the Vietnamese mobile business.
August 29, 2017
ALIBABA BUILDS LOGISTICS UNICORN TO DRIVE SOUTHEAST ASIA FORAY
Having poured billions into major e-commerce platforms in Southeast Asia, Chinese tech conglomerate Alibaba Group Holding has furthered its plans to build an empire outside the mainland by creating a pan-Asia logistics unicorn.
Two ground freight startups Alibaba backs, 58 Suyun and GoGoVan, announced Tuesday that they would be merged to become the largest intra-city logistics platform in Asia, covering over 110 cities with more than 1.2 million registered drivers in the network.
Chen Xiaohua, CEO of 58 Home, told reporters on Tuesday that the merger was hastened by the active participation of Alibaba. "Alibaba is the only cornerstone investor that requested to become the shareholder of this new company because it believes logistics fits well into its strategy," said Chen. [Read more]
August 25, 2017
VIETNAM TO START SCRUTINISING LEGAL FRAMEWORK FOR OFFICIAL RECOGNITION OF BITCOIN AND OTHER CRYPTOCURRENCIES
Vietnam Prime Minister (PM), Nguyen Xuan Phuc, has approved a plan to scrutinise and streamline the legal framework for the management of cryptocurrencies such as Bitcoin in Vietnam. It is expected that such currencies will be recognised legally in the country soon.
The PM has asked the Ministry of Justice (MoJ) to preside and co-ordinate with other relevant ministries and institutions. The MoJ will provide a comprehensive assessment and propose suitable solutions and revisions in the framework to the government.
It is expected that once the legal framework for the currencies is finalised, Bitcoin and several other cryptocurrencies will be officially recognised in Vietnam, opening up possibilities in financial technology and online payments. [Read more]
August 24, 2017
JD.COM AND THAI RETAILER PLAN JOINT VENTURE IN E-COMMERCE
China’s JD.com Inc is in advanced talks with Thailand’s Central Group to launch an e-commerce joint venture in Thailand with a planned total investment of US$500mil, according to Reuters.
The venture will help China’s second largest e-commerce retailer expand its overseas business in Southeast Asia. JD.com planned to enter the Thai market later this year and use Thailand as a hub to service other countries in the region such as Vietnam and Malaysia, JD.com chief executive Richard Liu said.
The joint venture with Central Group, owned by the billionaire Chirathivat family, would focus on e-commerce and finance sectors. The joint venture will be another attempt by Central Group to penetrate the country’s fast-growing e-commerce market, after it purchased the Thai arm of online fashion retailer Zalora last year. [Read more]
August 25, 2017
TELENOR, YOMA JV WAVE MONEY LOOKS TO EXPAND DIGITAL PAYMENTS IN MYANMAR
Wave Money, a joint venture between mobile operator Telenor and Yoma Bank, is looking to expand its digital payment services in Myanmar.
After having spread its agents’ network in 255 out of the 330 townships in Myanmar, Wave Money would further expand into untouched markets in the country, possibly by 2019.
The firm claimed to have capitalised on its current network of about 400,000 customers and agents to test other financial services options to further expand presence and fight competition. In the past year, Wave Money largely focussed on money transfer to help people transact in off-banking hours and for the unbanked population. [Read more]
August 28, 2017
GRAB TO INVEST US$100MILLION IN MYANMAR EXPANSION
Grab, Southeast Asia’s ride-hailing app, plans to invest $100 million in Myanmar over the next three years. The money will allow Grab to strengthen its presence in Yangon and work with local governments to launch its ride-hailing services to other cities across the country.
The company plans to unveil other products from the Grab suite such as GrabPay, moving more people in Myanmar into the digital economy and driving the adoption of mobile payment nationwide. According to the press statement, it works with local banks such as CB Bank and Wave Money to make banking and financial services available to all of its driver partners in Yangon.
Grab also intends to explore opportunities in the corporate travel segment by launching its latest corporate solution, Grab for Work. Over 8,000 corporations in Southeast Asia are currently using Grab for Work to manage employees’ local and regional transport expenses seamlessly and digitally. [Read more]
August 29, 2017
AXA LAUNCHES THE FIRST E-COMMERCE INSURANCE IN THE COUNTRY
AXA Philippines, one of the largest and fastest growing life insurance companies in the country, launched MyAmbition, the first investment and insurance plan in the Philippines to go live with an e-commerce platform.
Recognizing the rise to popularity of the digital world, AXA acknowledges that the whole consumer purchase journey has changed.
“We developed a product which is MyAmbition that will truly put the decision at the hands of the consumer at their own convenience.” AXA Philippines Chief Customer Officer Amor Balagtas said.
“Our innovative digital solutions address the unique demands of digital natives. You can avail of MyAmbition through our e-commerce site. You can also download MyAXA, the mobile app that allows our clients to access policy information anytime, anywhere.” says Raul Hora, President and CEO of AXA Philippines. [Read more]
August 29, 2017
GEO ENERGY RESOURCES TO INVEST IN ONLINE E-COMMERCE PORTAL IN INDONESIA
Indonesian coal mining group Geo Energy Resources Limited has set up a new unit to invest in a controlling equity stake in an online e-commerce portal in Indonesia, marking the group's first foray into non-coal related business since its establishment in 2008.
The unit, PT Geo Online Indonesia (Geo Online), was incorporated with an authorised capital of 10 billion rupiahs (S$1 million) and an issued and paid-up capital of 2.5 billion rupiahs, and will engage in trading, e-commerce, information technology and communication businesses.
The proposed investment will enable the group to gain access to an e-commerce platform and allow it to capitalise on Indonesia's fast-growing demand for online shopping with a growing Internet consumer base in Indonesia. [Read more]
August 29, 2017
SINGAPORE TO DEVELOP COMMON QR CODE TO DRIVE E-PAYMENTS
An industry taskforce looking at the development of a common QR code for Singapore has been formed, as Singapore is looking to develop a universal QR code that can support both local and international payment options.
The Monetary Authority of Singapore (MAS) said that the taskforce - called SGQR - aims to have in place standardised QR specifications to accept both domestic and international payment schemes by the end of 2017. It will also consider the governance structure and implementation strategy for QR payments, it said.
The Payments Council members said a common QR code could facilitate payments among different payment schemes, e-wallets and banks, according to the MAS press release. [Read more]
August 30, 2017
GRAB TO SHARE RIDE DATA WITH TOYOTA, UNVEILS PEER-TO-PEER PAYMENT SERVICE
Southeast Asian ride-hailing operator Grab said it would kick off a pilot programme with Toyota's automotive and financial services businesses as well as Aioi Nissay Dowa Insurance to glean insights in areas such as user-based insurance, financing programme, and predictive maintenance. These then would be used to enhance drivers' experience with Grab's platform.
The pilot would involve 100 Toyota cars in Grab's fleet, in which data would be captured via the Japanese car manufacturer's driving recorder, TransLog. The latter then would analyse the data and provide recommendations on ways to improve connected car services running on the Toyota Mobility Service Platform.
In a separate statement, the ride-hailing operator added that it was introducing a peer-to-peer fund transfer service that would allow consumers to exchange GrabPay Credits amongst each other. It was looking to pilot this first in Singapore, with the target to sign on more than 1,000 merchants for the service - specifically, stores that were heavily reliant on cash. [Read more]