LINE Thailand DGM59

Here’s what you should know today:

1. LINE expands with DGM59 acquisition

LINE has acquired Thai-startup, DGM59 Co, to join its engineering development sources where it’s expected to enhance the capabilities of Line’s existing products. Previously, its engineering development teams located in Japan, Korea, and Taiwan.

Ariya Banomyong, MD of Line Thailand said the company is committed to investing and localising their product in Thailand, the second largest base of its users – boasting 41 million users as of July 2017.

The deal is completed in mid-June and DGM59 team has already transferred to Line Thailand.

Read the full story here

2. Paytm Mall delists 85,000 sellers on its platform

India-based Paytm Mall is revamping the onboarding process for sellers to ensure quality control on its brand-new platform. So far, as many as 85,000 sellers are delisted due to the failure of meeting Paytm Mall’s standard.

As part of the new guidelines, the company has made it mandatory for sellers to furnish brand authorisation letters. Paytm Mall will also enable brands and shopkeepers to set the return, exchange and refund policies for their products being sold on the platform.

The company is set to hire around 2,000 people across various verticals as it is trying to expands its operations.

Read the full story here.

3. Online-only platform for retail investors will launch in Singapore

China’s Ping An Group announced today that Lu International – the spin-off of its subsidiary Lufax, has received an in-principle approval from the Monetary Authority of Singapore for capital market services (CMS) license.

Lufax was set up in 2011 as a peer-to-peer lender backed by Ping An Insurance and has more than 31 million registered users. In Singapore, Lu International will offer investments via mobile devices with no face-to-face encounters to attract customers who may have less wealth than those served by private banks.

The platform will launch in the third quarter.

Read the full story here

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