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Before you start the day, check out the top ecommerce headlines.

1. Worldpay predicts credit-card decline

For its Global Payments Report 2016, Worldpay analysed 30 ecommerce markets including Singapore and Malaysia. For Singapore, Worldpay found that although credit cards hold a 60% of the payments market, this is expected to slide to 36% by 2020.

Debit card use is expected to double to become 18% of the total payments market, while cash on delivery and bank transfers will represent 18% and 17% respectively. E-wallet growth is likely to remain relatively flat.

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2. Two renowned angel investors set up $7m venture capital firm for Southeast Asia and India

William Klippgen and Michael Blakey will be heading the VC firm, Cocoon Capital. They will focus on seed and pre-series A investments, and will sign checks ranging from $250,000 to $700,000 in Southeast Asia and India.

The firm will specifically back software-as-a-service, ecommerce, and fintech startups.

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3. Starbucks enables social gifting with WeChat in China

The Seattle-based coffee giant will partner with Chinese tech giant Tencent to co-create a new social gifting feature on WeChat, the messaging app used by 846 million people per month. It will allow customers to give Starbucks products to friends using WeChat in China, which has become a key market for Starbucks.

The coffee giant also announced that customers in China can also now use WeChat Pay, the app’s mobile payment system, to buy products in store.

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