Financial Inclusion

Alibaba Eyes SingPost

Alibaba will invest SGD 312.5 M (USD 249 M) for a 10.35% stake in Singapore Post. SingPost is a leading provider of e-commerce logistics solutions and trusted communications in the region. The press statement said that the collaboration between them “leverages the core competencies of both companies to advance the e-commerce eco-system and create logistics solutions for international e-commerce.”

Lim Ho Kee, Chairman of SingPost, said: “SingPost will benefit from Alibaba’s expertise in e-commerce, technology and business volumes. We see considerable strategic advantages, such as the creation of new relationships and opportunities for strategic cooperation with the Alibaba Group, all of which are expected to increase the Company’s growth and development pace as it pursues regional opportunities.”

Mr. Daniel Zhang, COO of Alibaba Group, said: “We are excited to collaborate with SingPost and leverage SingPost’s strong delivery networks and end-to-end e-commerce logistics solutions to facilitate international e-commerce. Through this collaboration, we hope to create concrete benefits for our overseas buyers and sellers by enhancing the user experience and providing greater access to a suite of international e-commerce logistics solutions and products.”

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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