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TECHNOLOGY

Technology Alibaba to invest more in Lazada WORDS ANQI LI

A

libaba is planning to raise its investment in Singaporebased startup, Lazada, to US$2 billion. This will increase its stake in Lazada from the existing 51 percent to 83 percent. Alibaba recognises the strong growth potential of Southeast Asia’s e-commerce market. The additional funding from the Chinese e-commerce giant will help to strengthen Lazada’s foothold in the region, especially against strong competitors like Amazon. In addition, it also allows access to a wider range of merchants and Alibaba’s logistics resources. According to RFi Group data in H2 2016, the allocation of spending on credit card online in some of the Southeast Asian countries ranges from 15% to 20%. As online shopping is poised for growth in the region, there will be greater opportunity to shift online payments towards credit cards. ALLOCATION OF CREDIT CARD SPEND Among credit cardholders Online domestic websites

Online international websites

Domestic physical stores

Overseas physical stores

100% 80%

13%

16%

18%

5%

2%

70%

74%

9%

6%

6%

Singapore

Malaysia

Thailand

2%

60% 40%

80%

20% 0%

Source: RFi Group Retail Banking Council (H2 2016)

18 TABM - RFi MEDIA

According to RFi Group data in H2 2016, the allocation of spending on credit card online in some of the Southeast Asian countries ranges from 15% to 20%.

Profile for Adelle Grisaffe

The Asian Banking Monitor - August 2017 Edition  

An RFi Group Publication

The Asian Banking Monitor - August 2017 Edition  

An RFi Group Publication