By Alun John
The city has become an important testing ground for Tencent’s WeChat Pay, and Alibaba’s Alipay, dominant rivals in mainland China
DHL eCommerce, a unit of Deutsche Post DHL Group, is ramping up presence in the Southeast Asian markets it is present in.
The latest deal could value the three-year-old e-commerce startup at over $500 million.
In the six months to 30 June, gross sales at Flipkart jumped by roughly 50%, while Amazon India’s gross sales increased by 35-40%.
The whole sector has been rattled as gaming companies from online giant Tencent Holdings Ltd. to small developers await approvals.
The changes would tighten restrictions on global giants like Amazon.com Inc. and Google and may bolster local startups such as digital payments provider Paytm.
The latest capital infusion brings Amazon’s total investment in India to $4 billion in its five years of operations.
Caocao Zhuanche, backed by Zhejiang Geely Holding Group, and EvCard, an under state-owned SAIC Motor Corp, are looking to raise funds.
Grab has been asked to improve fare transparency and acceptance rates for bookings, respond faster to complaints, and re-evaluate drivers incentives.
On Wednesday, CCI approved Walmart’s $16 billion acquisition of Flipkart but expressed concerns about the latter’s discounting practices.