In today’s top payments news around the world, Visa has inked a deal to acquire YellowPepper, which works with startups in the Caribbean and Latin America, while Canada’s Shopify is joining forces with China’s TikTok on social commerce. Plus, FreshToHome, an eCommerce platform in India, has raised $121 million in new financing.
Visa To Acquire YellowPepper To Expand Network of Networks In LATAM
Visa has signed a deal to buy YellowPepper, which works with upstarts in Latin America and the Caribbean. “YellowPepper’s technology, which acts like a ‘universal adapter,’ will be key to build on our ’network of networks’ strategy to become a single point of access for initiating any transaction type and enabling the secure movement of money,” Eduardo Coello, regional president for Visa Latin America and the Caribbean, said in a press release.
Canadian Shopify Teams With Chinese TikTok For Social Commerce
Shopify is teaming with TikTok to link its million-plus retailers with engaged users of the social platform. Retailers will have the capacity to sell merchandise via shoppable video advertisements. Users of TikTok can click on an advertisement to purchase the item. TikTok and Shopify are also intending to pilot new commerce functions to grow retailers' reach.
India’s FreshToHome Poised For Expansion After New Round of Financing
FreshToHome, an Indian online shopping startup that sells produce, poultry, meat and fish, has landed $121 million in new financing. The Investment Corporation of Dubai (ICD) assisted in heading up the financing round. Barclays served as the advisor on the deal, which represents the biggest Series C investment round in the Indian tech industry to date. Iron Pillar, which headed up the earlier Series B round, contributed $19 million.
Apple Buys Spain's Vilynx For $50M To Use AI On Apps
Apple reportedly bought Spain’s Vilynx earlier this year. The company works in advanced artificial intelligence (AI) that could bolster the iPhone’s AI throughout different devices. Vilynx has created technology that harnesses AI to make sense of a video to understand what is portrayed. Apple’s purchase reportedly went through for approximately $50 million. Apple has been spending big for the AI field, including paying $200 million for Xnor of Washington state.
