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Here’s what you should know today.

 

1. PayPal partners with Android Pay for in-store payments push

PayPal has entered a partnership with Google’s Android Pay to further expand PayPal’s presence in offline stores.

The partnership will allow US customers to use PayPal as a payment method within Android Pay wherever Android Pay is accepted, be it in-store, in-app, or online.

The deal is hoped to extend the company’s reach amid a crowded mobile wallet landscape. PayPal processed $102 billion in mobile payment volume and two billion mobile transactions in the last year.

PayPal has made a series of a deal over the last year aimed at giving its mobile wallet more exposure. Most recently with Discover that gave PayPal access to their tokenization services. Similar partnerships have been made with Visa and Mastercard.

Read the rest of the story here.

2. Deliveree Thailand expects to break even this year

Bangkok-based on-demand delivery service app, Deliveree, is expecting to break even this year, as stated by Country Director Chanisa Rueangkirianya.

“Our Bangkok operation is on the right track to break even by year-end, helped by our cost efficiency and business development strategies,”

The growth is fueled by the growing ecommerce retail market and greater demand for fast delivery services. The company also wrapping up its series A funding this year.

Deliveree also has a presence in Jakarta and Manila. The app has been downloaded more than 200,000 times, while the company boasts 9,000 drivers in its transport network.

Read the rest of the story here.

3. Ant Financial announces merger with Lazada’s HelloPay Group

Alibaba’s financial affiliate, Ant Financial announced today that it merged with HelloPay Group, Lazada’s online payment platform.

The deal came one year after Alibaba purchased $1 billion of a controlling stake in Lazada, currently the largest online marketplace in Southeast Asia.

Following the merger, HelloPay will be rebranded as Ant Financial’s online and mobile payment solution, Alipay. All of HelloPay’s features and services, however, will remain unchanged.

Read the rest of the story here.

Here are the key headlines for today:

1. Apple Pay and Android Pay purchases may hit $8 billion by 2018

In-app purchases and website retail payments are projected to drive annual spend via Apple Pay and Android Pay up to $8 billion in 2018, up from $540 million this year. Read the rest of the story here.

 

2. Frost & Sullivan: Southeast Asia’s ecommerce market to surpass $25 billion by 2020 

Despite the region’s market challenges, Frost & Sullivan has forecasted that Southeast Asia will continue on the path of rapid growth, with B2C ecommerce to lead the way. Read the rest of the story here.

 

3. Indonesia’s Fintech investments to reach $8 billion in two years

According to The Indonesian Chambers of Commerce and Industry (KADIN), transactions through fintech in have escalated along with the number of people going online. Read the rest of the story here.

 

4. Google takes on Uber with the launch of its new ride-sharing service

Google is moving onto Uber’s turf with a ride-sharing service to help San Francisco commuters join carpools through Alphabet, at a cheaper rate. Read the rest of the story here.

 

5. Southeast Asia’s VCs join forces to boost startups

The new group was started by Indonesian venture capital association Amvesindo and its pendant in Singapore, SVCA. Read the rest of the story here.

Yoyo Wallet, the European mobile payments and rewards app is making a late entry into Asia, using Singapore as its foray into the region, reports Tech In Asia.

Yoyo Wallet will join an already crowded space, filled with Samsung Pay, Apple Pay and Android Pay, but claims that it will be the first platform in the market to combine payment with loyalty and provide value to both retailers and customers.

Yoyo will initially only work at Foodclique, a food court at the National University Of Singapore. In the UK, Yoyo Wallet also has presence at numerous universities, offering students an e-payment option for their lunches.

How Does Yoyo Wallet Work?

Payments made using Yoyo Wallet are processed via a QR Code on the app which is then scanned by the shop assistant on the cash register. For every transaction made through the platform, users can collect loyalty points and personalized discounts.

Yoyo wallet launches in Singapore

Source: visaeuropecollab.com

The payment itself is an enabler to a new buying experience where loyalty is automated and personalized. The platform want to move away from cash, stamp cards, loyalty cards and paper receipts.

Alain Falys, CEO of Yoyo Wallet states that the platform typically enjoys the highest share of checkout (30%) versus cash, cards or Apple Pay.

Yoyo Wallet also provides insights for retailers. The platform offers Yoyo Engage, a web tool that aims to help companies understand their consumers better, along with tools to assist in engagement. An example of this feature would be a merchant using this tool to target customers that prefer drinking lattes before 9am, and sending out personalized promotional offers. The platform leverages from big data and targeted communications to drive sales, and it’s effective.

Like a lot of Western startups cautiously experimenting with Asia, Yoyo Wallet plans to use Singapore as a hub, and will consider expansion in other Asian countries once it strikes gold in Singapore.

A version of this appeared in Tech In Asia on July 13. Read the full version here.

Android Pay launches in Singapore

Android Pay being used to make a purchase. Source: Straits Times.com

Android Pay launches in Singapore but faces an uphill battle. Apple Pay and Samsung Pay are already widely adopted in the Singaporean market and penetration of contactless POS systems (the tapping system that is integral to Singapore debit cards payments) is also not as high as it should be. Lastly, most cheaper Android phones simply do not have the right functionalities, which requires at least a version 4.4 KitKat and near field communications (NFC) capabilities, reported Forbes today.

Most interesting is the ecommerce potential. Google will launch Android Pay for in-app purchasing in the coming months and has announced Deliveroo, Grab, Shopee, Singapore Airlines, Uber and Zalora will be integrating in-app payment via Android Pay into their services.

Singapore will be the first Asian market to gain access to Android Pay with Singaporeans able to load Visa and  Mastercard credit and debit cards from six banks including DBS and Standard Chartered onto their android smartphones.

A version of this appeared in Forbes on June 27. Read the full article here.