Here’s what you should know before rounding up the day.

1. Amazon launches subscription service for tech toys

What? Amazon launched a new subscription program aimed called STEM Club, which delivers educational toys to your home for $19.99 per month.

What else? The subscription program won’t feature just any ol’ STEM toys, but will rather only include those that have recently launched or those that are exclusive to Amazon.

How does it work? The first toy will arrive in under a week’s time with free shipping. From that point forward, a new item will arrive on a monthly basis. The service is only available in the U.S.

Read the rest of the story here.

 

2. Singapore’s MC Payment acquires a fintech startup to work with Alipay

Singapore-based MC Payment announced that it has acquired a controlling stake in Genesis Payment Solutions.

What is Genesis? Genesis is a Singaporean payments company that is licensed by Alipay to acquire merchants for the Chinese online payments provider.

What does the deal provide? Through the deal, MC Payment gains access to Genesis’ clients, mostly small- and medium-sized enterprises, as well as the firm’s merchant-acquiring license with Alipay.

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3. Recommended Reading: RedMart, Lazada and the future of online grocery market in Asia

Roger Egan, the co-founder and CEO of RedMart shares his views about the future of online grocery retailing in Asia.

His outlook on Southeast Asia’s online grocery market: Grocery represents about 60% of the $814-billion total retail market in Southeast Asia. With 1% online grocery current penetration and a tech-savvy consumer base, we believe Southeast Asia will quickly catch up and leap to 15-20% penetration in cities.

Where he sees RedMart in 5 years: Egan expects for RedMart to have approximately 15% of the market share in Singapore.

Read the rest of the story here

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