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Social media app TikTok has introduced a data portability API in an effort to comply with EU’s Digital Markets Act.
compliance, regulation, Digital Markets Act (DMA), product upgrade
Mark Beresford, Director at Edgar, Dunn & Company (EDC), discusses the changes in the payments industry resulted from the adoption of the DMA in Europe, exploring the main benefits for both consumers and merchants.
European Commission, European Payments Council, regulation, payments , payment gateway, compliance, loyalty programme, transactions , merchant, NFC, credit card, debit card, e-wallet, mobile payments, mobile money, marketplace, online payments, contactless payments, digital payments, PCI compliance, PCI DSS, EMVCo
Bob Hoyler of Euromonitor discusses slowing growth, citing changing consumer behaviour. Despite challenges, cross-border ecommerce thrives, driven by marketplaces.
ecommerce, cross-border payments, behavioural biometrics, marketplace, research
TikTok has entered into a joint venture with Indonesian tech company GoTo to resume its online shopping operations in the country.
partnership, social commerce, ecommerce, online shopping
US-based payment platform Mozaic has raised USD 20 million to solve uneven payment distribution in the music industry.
online payments, cross-border payments, payment methods, API, funding
Short-form video hosting service TikTok has officially launched its ecommerce product TikTok Shop in the US, aiming to provide customers with new features.
product launch, product upgrade, mobile payments, online payments, digital payments, ecommerce
China-based Ant Group has announced it will swap its stake in India-based payments company Paytm for convertible debt.
fintech, paytech, investment, regulation, payments
China-Based TikTok has revealed its plans to obtain a payments licence in Indonesia and is working with regulators towards this goal.
regulation, ecommerce, payments , expansion
China-based software and tech company Tencent has announced its metaverse service suite targeted at Asian countries such as Singapore and Thailand.
metaverse, web3, product launch, virtual asset
Alibaba has rolled out Daraz Flex, an outsourcing platform allowing users to earn money by completing tasks such as working as a last-mile delivery person or warehouse assistant.
ecommerce, gig economy, product launch, Alibaba
Chinese social media platfom TikTok has reportedly announced several job openings in the US indicating plans to expand ecommerce services in the country, according to South China Morning Post.
social commerce, ecommerce, direct to consumer, ecommerce platform
China-based social media platform TikTok is due to enter a partnership with TalkShopLive to launch TikTok Shop in the US.
partnership, ecommerce, livestream shopping, expansion, social commerce, marketplace, online shopping
China-based social media platform TikTok has abandoned plans to join the European and US live ecommerce market.
ecommerce, livestream shopping, expansion, social commerce
China-based ecommerce company Shein has been in talks to raise USD 1 billion.
startup, ecommerce, retail, funding, online shopping
Chinese multinational tech company and the developer of TikTok, ByteDance, has announced the launch of its shopping app Fanno in Europe.
shopping, expansion, online shopping, mobile payments, online platform, ecommerce
Brasil-based digital bank Bexs has connected its cross-border payment platform, Bexs Pay, to Pix, an instant payment system implemented by the Central Bank of Brazil (BCB).
partnership, PIX, cross-border payments
US-based identity verification provider Trulioo has announced it has completed a USD 394 million Series D round led by equity firm TCV.
funding, digital identity, digital onboarding, KYC
social commerce, ecommerce, online shopping
Huawei, acquisition, mobile payments
ByteDance, product launch, third-party payment service, China, Douyin Pay, mobile payments, virtual gifts