Didi Chuxing, China’s biggest ride-hailing company which counts SoftBank as a backer, saw its ride sharing orders in China this month recover to levels seen over the same period a year earlier, its founder and Chief Executive Cheng Wei said. Didi’s peak daily ride sharing orders surpassed 30 million, Cheng said in a statement on […]
Archives for June 2020
Consumer internet companies line up loans amid slowing economy
With the economy opening up after lockdown, consumer-focused large online platforms are lining up new loans or credit lines to tap into the growing demand for credit among consumers, even when lending-focused startups are being cautious before issuing new loans. Digital payments platform Paytm has reworked its lending product Postpaid with an enhanced credit limit […]
Consumers may spend less, seek value for money: Survey
Indian consumer companies are tailoring marketing and output plans that will suit the thrift-focused buyer, with the lockdown-induced disruptions triggering health and income-loss concerns across the country. As foods and groceries are the only categories reporting stable sales, companies are focusing on the value end of the spectrum for most product lines, assuming that cuts […]
How Expend’s payment technology is making life easier for UK charities
Each month we celebrate an app partner making a positive difference to our ecosystem community and small businesses around the world, in clever or inspiring ways. This month we’d like to share how our app partner, Expend, is making life easier for charities and volunteer organisations. With their expense management and payment technology Expend is […]
Do you have a disaster recovery plan?
One night last week a fire broke out in a building next to the office where my son works. Everything in their office was destroyed and the building will have to be repaired before they can return to it. Due to the current situation staff were already working remotely so work could continue without too […]
Paytm deepens micro-credit foray as other firms shy away
India’s most valued fintech, Paytm, is set to harness increased credit demand through the lockdown to extend its foray into micro-credit services for users paying bills and making purchases online. The SoftBank- and Alipay-backed digital payments giant said that it has tied up with non-bank lenders Clix Capital and Arthimpact Digital Loans to tap into […]
Our core focus remains on pure-play e-commerce: Flipkart’s Kalyan Krishnamurthy
Walmart-owned Flipkart will continue to focus on pure-play ecommerce instead of ecosystem building with bundled services despite rising competition from new entrants like Reliance Jio and existing rival Amazon, a top executive told ET. Flipkart Group chief executive Kalyan Krishnamurthy said the Bengaluru-based company will deploy most of its investments and resources into winning commerce […]
Customers have turned more value-conscious: Flipkart group CEO Kalyan Krishnamurthy
Illustration: Rahul Awasthi Walmart-owned Flipkart will continue to focus on pure-play e-commerce instead of ecosystem building with bundled services amid rising competition from new entrants like Reliance Jio and existing rival Amazon, a top executive told ET. Flipkart group CEO, Kalyan Krishnamurthy, said the Bengaluru-based company will deploy most of its investments and resources into […]
Banks were already feeling the impact of COVID-19. This new accounting rule doesn’t help – USA TODAY
Banks across the nation were facing headwinds even before the coronavirus pandemic hit, and a new, more-rigorous accounting rule isn’t helping things. Banks could face eroding profits on a scale they haven’t seen since the Great Recession. For depositors and other bank customers, this is a possible cause for concern — or at least a reason […]
Swiggy to shutter its premium food delivery service Scootsy
Swiggy plans to shut its premium food delivery platform in Mumbai, Scootsy, and integrate the operations within the Swiggy app. The move to combine the operations is expected to help Swiggy tap into Scootsy’s high-end customer and restaurant base, as it seeks to set up a premium category within the app at a time when […]