Here’s what you should know.

1. Didi rumored to gain payment license through acquisition of 19Pay

local payment news site Paynews is reporting that Didi will fully acquire 19Pay for $622 million, but the deal is still under discussion and Didi should take over the company by July.

Like many other companies that have invested heavily in payment companies, Didi’s motive behind his deal is loud and clear: to have its own payment license.

Given payment license was the primary object of this deal, Didi’s interest of maintaining 19pay’s current business was minimum.

The acquisition is a further indicator for the company’s plans in expanding into the financial sector, which has become a must-have business of nearly every major Chinese internet company thanks to the proven model and promises of higher margin.

Read the rest of the story here.

 

2. Millennials buy clothes from Amazon

The data from Slice indicated that the 18-to-34-year-old demographic purchased 16.6% of its clothing on Amazon, double the online millennial purchase volume of runner-up Nordstrom, which saw 8.1% of online apparel sales go to millennials.

According to a report by Cowen & Co., Amazon’s clothing and accessory sales are projected to rise some 30 percent this year to hit $28 billion.

Amazon’s share of millennial apparel dollars could inflate even further in the next few years as the online retail giant continues its private-label push.

Read the rest of the story here.

 

3. Mitsui aims for a slice of Southeast Asia’s retail market

Japanese trading house Mitsui & Co. looks to tap into Southeast Asia’s booming retail market using information and communications technology.

The company also hinted at deepening Mitsui’s partnership with Indonesian conglomerate Lippo Group. Mitsui holds a stake in the Lippo unit that runs Indonesian ecommerce site MatahariMall.

Read the rest of the story here.

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