1. Alibaba sees tremendous challenges for purely ecommerce businesses
Alibaba Group Holding Ltd. expects pure ecommerce operators to face ‘tremendous challenges’ as the web giant seeks to tap more growth from transforming China $4.5 trillion traditional retail industry. The company is working with partly-owned Suning Commerce Group Co. and Intime Retail Group Co. to integrate the online experience with brick-and-mortar shopping. Read the rest of the story here.
2. Mobile banking users remain low in Indonesia
Mobile device utilization for financial services remains low, although the Internet network coverage has reached 90%. Read the rest of the story here.
3. Alibaba’s new payment system lets virtual reality shoppers pay by nodding
VR Pay, the new payment system, is part of Alibaba’s efforts to capitalize on the latest technology in online shopping. Read the rest of the story here.