In this edition of Weekly Focus APAC: Alibaba Inks Cross-Border Deal with Russian Carrier; Singtel digital portfolio is now on Apple Pay; 7-in-10 Singapore ignorant travelers about overseas transaction fees. And JD.com unveils a £ 798.16 million repurchase plan.
Baba deals across the border with a Russian transportation company
Volga-Dnepr Group signed a deal with Alibaba Group's Cainiao Smart Logistics as part of efforts to enhance cross-border shipping capabilities and support the increasing demand for express delivery services.
Under the agreement, the Russian air carrier will provide access to its network, including its 41-aircraft fleet, to Cayenneo, the partners said in a joint statement. In contrast, Alibaba will work with Volga-Dnepr as its preferred carrier for air transport and logistics services.
The two companies will also use logistics resources in Asia, Europe and Russia to provide a "more efficient shipping network".
Tanya Arslanova, Vice President of Volga-Dnepr Strategic Management, said: "The future of air freight is in the e-commerce sector, where customers are more technically intelligent, online driven, and demanding in terms of delivery services. The advantage lies in the ability to provide fast, fully equipped and transparent services with the support of trusted partners. "
Russia has proved to be a major market for Alibaba, where the international shopping site of China's e-commerce operator is the most popular retail platform on the Internet. In September, AliExpress's Mail.ru Group and the Russian Internet Company participated in providing an integrated portal for consumers to connect, socialize, shop and play.
"We are delighted that Volga-Dnepr has become our strategic partner to enhance the air cargo capacity of our intelligent global logistics network, allowing merchants and brands – especially small and medium-sized businesses – to access more effective cross-border logistics services," said James Chao, General Manager of Cainiao Global.
Singtel Digital Wallet Now 0n Apple Pay
Dash's Singtel consumers will now be able to make payments using Apple Pay; specifically, through Singapore's default Visa feature.
This is made possible through the partnership between Singtel and the online payment provider Wirecard, and will allow Dash users to pay for their purchases using Apple Pay at participating and offline online merchants worldwide.
Citing the International Holiday Shopping Report of 2018, Wirecard noted that 51% of Singapore consumers said the option of using mobile payment applications in the store would improve their shopping experience.
"As mobile payments and online payments become increasingly popular, Dash offers easy, secure and fast payment options between our partner merchants and more than one year," said Brigitte Hauser-Akstner, Executive Vice President, Wycard Asia Sales. 500 thousand Dash … Customers on the platform of their choice. "
The Singtel payment application can also be used for mobility and money transfer.
In a separate announcement, Singapore Telecom said it had launched a SIM card that had also doubled as a stored value card that tourists could use to pay for public transport services in the city – the state.
The cost of the EZ-Link Hi-Tourist SIM card is $ 18 (£ 10.35) and includes 100 GB of mobile data and free access to FaceBook, WhatsApp, LINE and WeChat – at 1 GB per day – and 1 GB of data Roaming in Indonesia, Thailand, Malaysia and Australia. The new card has a S $ 3 credit (£ 1.71) that visitors can use to take public trains and buses in Singapore and get more credit for public transport.
The SIM card can be purchased from retail and retail stores in Singular, Singapore Changi Airport, 7-Eleven outlets, Cheers, and other participating retailers on the island.
7-in-10 Singapore ignorant travelers about overseas transaction fees
About 70% of consumers in Singapore do not understand how banks charge fees for overseas payment cards, even though they know they are.
Nine in 10 were unwilling to pay more than 2% of these transaction fees, according to a study conducted by YouTrip, which offers portable wallets that support multiple currencies. The survey was conducted online to survey the 1,386 Singapore participants aged between 18 and 65 who were on average 3.3 this year.
YouTrip noted that card payments accounted for 48% of the total traveler's expenses, resulting in an average of $ 26 (£ 14.95) to S $ 40 (£ 23) of bank fees from foreign currency purchases One trip.
While 90% of Singapore's participants are unwilling to pay more than 2% of foreign transaction fees, the current average of banks is between 2.5% and 3.5%, he said. In addition, transaction charges were more than 5% when making payments via dynamic currency conversion, which was imposed when consumers paid for external purchases in local currency for their card.
An online survey found that 85% of respondents in Singapore were concerned about the weakness of exchange rates when spending abroad, while 71% were concerned about overseas transaction fees.
"Travelers and their overseas buying behavior are often ignored by banks and wallets that usually focus on local payment," said Kaysilia Chu, co-founder and CEO of YouTrip. "We hope to understand the pain points of money management travelers and what YTrip can do more about this. Non-serviced part. "
The portable YouTrip portfolio is designed to enable users to pay more than 150 foreign currencies without incurring any added transaction charges. The company, together with a non-contact prepaid MasterCard card issued by the contactless Singapore card vendor, EZ-Link, in collaboration with You Technologies Group,
JD.com unveils £ 791.16 million repurchase plan
China's online retailer announced plans to buy back up to $ 1 billion ($ 791.16 million) of its shares next year.
GD.com said the moves to repurchase the company's shares were made "from time to time" on the open market at prevailing market prices, in specially negotiated transactions, in trading transactions, or through other permitted means Legally. These depend on market conditions and are in accordance with regulations.
He added that the company will finance the repurchase of the current cash balance.