Flipkart Wholesale to offer ‘Buy Now Pay Later’ credit facilities to MSMEs and Kiranas
Flipkart Wholesale, the digital B2B marketplace of Flipkart Group, has partnered with Davinta, a SME lending platform, to offer ‘Buy Now Pay Later’ credit facility to its retailers, the company said in a media release.”With BNPL we are now allowing retailers across the country to unlock themselves from cash constraints while purchasing supplies and enjoy simple one-click credit access,” said Ravi Garikipati, CEO, Davinta.As the economy slowly limps back to normal and the festive season coming up, consumer demand is increasing and so is the demand for credit among retailers.Flipkart Wholesale’s supplier base is expected to grow 58% in 2021. It witnessed 17% growth in its kirana customer base in January-June 2021 compared to the same period last year. The kirana customer base is projected to further grow by 33% in July-December 2021, compared to the same period last year.
Growing small and medium businesses embrace the digital-first world
The latest Small and Medium Business Trends report, based on the responses of 2,534 small and medium business (SMB) owners in North America, Latin America, South America, Europe, and Asia Pacific, reveals that SMBs are embracing technology, to increase productivity, agility, and data security. (The survey was conducted by The Harris Poll on behalf of Salesforce between June 21 and July 12.)62% of SMBs in India say financial support from their community has been vital to their business’ survival. Post-pandemic, 59% of SMBs in India have expanded ways customers can reach them. 99% of SMBs plan to offer contactless services permanently, leading with secure digital payments (78%), mobile orders (68%) and digital customer service (62%). Customer and employee engagement: Post-pandemic, 59% of SMBs in India have expanded ways customers can reach them.
Facebook launches new messaging, business tools for brands
Businesses will now be able to add a button on their Instagram profiles to let people send a WhatsApp message to the company with one click. Facebook will also begin testing the ability for brands to send emails through Facebook Business Suite, a feature that lets businesses manage their presence across the social media site’s apps. Integrating WhatsApp is particularly important for customers in countries such as India and Brazil, where the Facebook-owned messaging app is widely used, Anand said. Facebook said it will begin testing the ability for brands to send emails through Facebook Business Suite, a feature that lets businesses manage their presence across the social media site’s apps, in order to simplify how companies reach customers. It will also test new work accounts to let employees manage business pages without needing to log in with their personal accounts.The new business tools come a day after WhatsApp began testing a new feature in Sao Paulo, Brazil, to let users find shops and services through a directory in the app for the first time, part of an effort to bolster ecommerce on the service.
Battle for digital privacy is reshaping the Internet
Media publishers, app-makers and e-commerce shops are now exploring different paths to surviving a privacy-conscious internet, in some cases overturning their business models. Many are choosing to make people pay for what they get online by levying subscription fees and other charges instead of using their personal data. Apple introduced a pop-up window for iPhones in April that asks people for their permission to be tracked by different apps. Google recently outlined plans to disable a tracking technology in its Chrome web browser. And Facebook said last month that hundreds of its engineers were working on a new method of showing ads without relying on people’s personal data.The developments may seem like technical tinkering, but they were connected to something bigger: an intensifying battle over the future of the internet. The struggle has entangled tech titans, upended Madison Avenue and disrupted small businesses. And it heralds a profound shift in how people’s personal information may be used online, with sweeping implications for the ways that businesses make money digitally. At the centre of the tussle is what has been the internet’s lifeblood: advertising. More than 20 years ago, the internet drove an upheaval in the advertising industry. It eviscerated newspapers and magazines that had relied on selling classified and print ads, and threatened to dethrone television advertising as the prime way for marketers to reach large audiences.
Amazon, Microsoft swoop in on India’s $24 billion farming data trove
Amazon.com, Microsoft and Cisco Systems are among technology giants lining up to harness data from India’s farmers in an ambitious government-led productivity drive aimed at transforming an outmoded agricultural industry. Jio Platforms Ltd., and ITC Ltd. are among local powerhouses that have signed up for the program. Prime Minister Narendra Modi’s administration, which is seeking to ensure food security in the world’s second-most populous nation, has signed preliminary agreements with the three U.S. titans and a slew of local businesses starting April to share farm statistics it’s been gathering since coming to power in 2014. Modi is betting the private sector can help farmers boost yields with apps and tools built from information such as crop output, soil quality and land holdings.
Google stifling competition with anti-competitive practices
A probe by the Competition Commission of India (CCI) has held tech giant Google guilty of using unfair, anti-competitive and restrictive trade practices in the mobile operating system markets. The charges include stifling competition to tilt the market in its favour, especially in the areas of search, music, browser, app library and other services. Media reports say that the CCI held Google going against provisions of Section 4(2)(a)(i); Section 4(2)(b); Section 4(2)(c); Section 4(2)(d) and Section 4(2)(e) of the Competition Act. The charges against the tech giant include stifling competition to tilt the market in its favour, especially in the areas of search, music, browser, app library and other services, according to a media report.The investigation also found that Google had been imposing unfair contracts on devices and app developers to ensure that its own products are prioritized. To this end, Google’s products come preinstalled in the phones as defaults.