In today’s top payments news around the world, ByteDance has launched a mobile payment offering for Douyin, while Dunzo is closing a $40 million Series E funding round. Plus, MGM Resorts International announced that it is ending its bid to purchase the Entain gaming platform.
ByteDance has rolled out a mobile payment offering for the Chinese version of TikTok, which is called Douyin. The firm is aiming to grow its online commerce business and take on the country’s large payment platforms – WeChat Pay from Tencent Holdings and Alipay from Ant Group. Now, Douyin users can harness the new Douyin Pay system instead.
Dunzo, the India-based delivery upstart, is closing a $40 million Series E funding round headed up by Lightbox, Google, Hana Financial Investment, Evolvence, Alteria, LGT Lightstone Aspada and others. Dunzo is aiming to further the retail environment in India by offering online tools and offerings for eCommerce sales to micro, small and medium-sized businesses (SMBs).
MGM Resorts International said it’s pulling the plug on its effort to buy the Entain gaming platform, which is a BetMGM partner. Once Entain turned down the firm’s all-stock proposal, MGM said it won’t make another bid. MGM offered 0.6 of its shares for every Entain share, according to a published report.
Moonpig is planning a $1.6 billion initial public offering (IPO). The digital greeting card and gifts company, which was started in 2000, has approximately 450 staffers and will likely release its complete IPO prospectus next week. “Our data-powered technology platform makes it incredibly easy for our customers to create more special moments for the people they care about,” Moonpig Group CEO Nickyl Raithatha said in a statement.