Uber rival Grab acquires Indian startup to bulk up its mobile payment platform

Uber rival Grab acquires Indian startup to bulk up its mobile payment platform

Southeast Asian ride-hailing firm Grab today said it has acquired Bengaluru-based payments startup iKaaz to strengthen its payments platform. Grab, which competes with the likes of US-based Uber, said the “rich functionality of iKaaz mobile payments platform and its experienced leadership team will accelerate feature development and partner integration of GrabPay (its payments platform)”. It, […]

Hyundai is investing in Grab, one of Uber’s biggest rival in Southeast Asia

Hyundai is investing in Grab, one of Uber’s biggest rival in Southeast Asia

Hyundai Motor has invested in Singapore-based ride-hailing firm Grab, on of Uber’s biggest ride-hailing rival in Southeast Asia, as the South Korean automaker looks to expand beyond its traditional business of producing and selling vehicles. Grab did not disclose the value of Hyundai’s investment. Hyundai joined other investors, including Didi Chuxing, SoftBank and Toyota Tsusho (Toyota’s […]

Southeast Asia’s Internet economy on track to hit $200bn by 2020, according to Google and Temasek

Southeast Asia’s Internet economy on track to hit $200bn by 2020, according to Google and Temasek

Southeast Asia’s Internet economy is set to hit $50bn in 2017, outpacing earlier growth expectations by 35% and well on track to realising a $200bn internet economy by 2025, according to a report released by Google and Temasek Holdings, the Singapore government’s investment vehicle, called the ‘e-Conomy Southeast Asia Spotlight 2017’. The report found that […]

Mobile the key driving force as digital ad spend surges across Southeast Asia

Mobile the key driving force as digital ad spend surges across Southeast Asia

Digital ad spending in the Southeast Asia is set for a significant rise, as mobile sees heavy investment across the region. Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam will all see their digital ad spend increase by double digits in 2017 and 2018, according to eMarketer. Spending will surpass $2.2bn across these markets, accounting for […]

Mobile Commerce Inches Upward in Southeast Asia

Mobile Commerce Inches Upward in Southeast Asia

Mobile commerce accounts for growing share of ecommerce transactions in the countries of Asia-Pacific, particularly in Southeast Asia. However, even as consumers increasingly embrace mobile purchase behaviors, research suggests mcommerce still makes up less than 40% of total transactions among digital retailers. According to a recent study of mobile commerce by Criteo, mcommerce made up […]