An additional 110 million contactless payment cards expected to be issued in 2020, when compared to pre-COVID-19 forecast expectations
According to Tech market advisory firm, ABI Research, COVID-19 is expected to have a profound effect on the payment cards market. Contactless is considered the more hygienic and safe way of making proximity payments, and this is being reinforced by ecosystem players who are shifting marketing messages from contactless transactions used to increase convenience levels toward safety and health. Globally, contactless adoption will increase between +6% to +8% when compared to pre-COVID-19 expectations, with the issuance levels forecast to grow by 14% YoY, accounting for more than 65% of all cards issued in 2020 .
“Although the overarching trend toward contactless was well in place prior, COVID-19 will further increase the speed of contactless adoption, particularly within countries and economies where cash remains king, and usage not only being encouraged by payment ecosystem players and suppliers but also by governments and health organizations including the WHO,” explains Phil Sealy, Research Director at ABI Research.
“The way people pay for things is rapidly evolving and changing. COVID-19 has driven a significant shift in consumer spending habits spurred by economic uncertainly and a push toward the purchase of mainly essential items. There is also a surge in e-commerce whereby consumers are becoming even more heavily reliant on online retail channels to avoid crowded places to limit social interactions,” Sealy points out.
However, with a significant strain placed on e-commerce, physical brick and mortar retail still has a major role to play and is essential in many instances. In most countries, retailers considered essential (e.g., supermarkets) remain open. They have put in place measures to help combat the spread of COVID-19 to shoppers and customers, including the enforcement of 2-meter distancing and placing protective screens at checkouts. They are also encouraging digital payments over cash and, where possible, completely contactless transactions.
Major payment networks, including Visa and Mastercard, are looking to aid in the pandemic by increasing contactless card spending limits. Many national and local authorities and governments, as well as merchants, are encouraging digital payments over cash, using the digital transaction method to limit contact with items and objects that are communal and used by multiple people—in this instance, point-of-sale terminals.
“COVID-19 is not only bringing contactless to the forefront of the digital payment experience, but also other next-generation payment card form factors. As consumers increasingly use and become more reliant on contactless, the question of how best to secure and limit fraud on increasing contactless transaction volumes and values will come into play,” Sealy says.
Biometric payment cards are well-positioned as a solution that offers a contactless payment card experience without limits. The use of multi-factor contactless transaction authentication will become a key theme post-COVID-19, extending security previously reserved for high computer-powered devices such as smartphones and mirroring the experience and security features onto the passive payment card form-factor.
“The message is clear that contactless payments have a critical role to play in the fight against COVID-19, from a hygiene, health, and safety perspective,” Sealy added.
This News has been Published in Partnership with PR Newswire
Singapore based eCommerce solution provider Graas accelerates regional growth with key senior hires
- Key hires include a Chief Growth Officer, Chief People Officer, VP & Head of Business, Indonesia, EVP Marketing and EVP Product Marketing
- Hires comes off recent US$40M fundraise
New AI-powered eCommerce solution provider, Graas, today announced the appointment of five senior key hires in the region as part of Graas’ strategy of accelerated growth in Southeast Asia and India. Combined, the appointment of these senior industry veterans brings decades of regional experience into Graas. This comes closely after the first close of Graas’ Series A, raising over US$40M to launch the category- defining technology solution “Growth-as-a-Service”.
With eCommerce growing at an exponential rate in the region, Graas has appointed veterans in this space to helm its growth, including Nathalie Pellegrini, Chief Growth Officer – who will be primarily responsible for developing new relationships with brands and agency partners, optimising business models and processes. Her previous role was Chief Performance Officer at Mindshare Asia Pacific, and has had stints at iFlix and Blis Global before that.
Other key hires include Ujjwal Sarao as Chief People Officer. In this role, Sarao will oversee Global People Strategy and key talent management solutions; Graas currently has over 350 employees across 7 countries. Her past HR leadership roles include companies like Aegis Media, Dentsu and Publicis.
Trisnia Anchali Kardia has joined as VP, Head of Business for Graas in Indonesia. She was previously the Chief Commercial Officer of LINE Indonesia, and prior to that had stints at Zomato Indonesia, and Telkomsel Digital Advertising. With her extensive experience in the media and the digital industry in Indonesia, Kardia will focus on growing the business in one of Graas’ key markets.
Rika Ninomiya, who was Chief Business Officer at SELLinALL (now acquired by Graas) has been appointed as EVP Product Marketing. Ninomiya will be responsible for product-market fit for Graas’ predictive engine and continue to deal with key strategic initiatives across Asia.
Lastly, Sathya Ramaganapathy has been appointed as EVP Marketing. She was previously VP Marketing at Shoptimize (now acquired by Graas). A veteran in B2B Product Marketing and SaaS Product Management, Ramaganapathy will spearhead Graas’ brand as well as global marketing and communications strategy.
“eCommerce as a percentage of overall retail continues to grow and India and SE Asia lead the way globally. Graas stands for Growth-as-Service, and we act as in-house data scientists, something previously inaccessible to most. With the addition of experienced veterans to our team, we are doubling down on our commitment to brands both big and small across the region” said Prem Bhatia, Co-Founder & CEO of Graas.
Following closely after Graas’ fundraise and acquisitions, Graas continues to accelerate its growth through a fast go-to-market strategy in the region.
Founded in 2022, Graas is a “Growth-as-a-Service” technology solution provider using predictive AI to turbo-charge growth for eCommerce businesses. Graas integrates traditional data silos and applies a machine-learning AI engine, acting as an in-house data scientist to predict trends and give real-time insights and actionable recommendations for brands.
The platform can also turn insights into action by seamlessly executing these recommendations across marketplace store fronts, brand.coms, social and conversational commerce, performance marketing, inventory management, warehousing and last mile logistics – all of which impacts a brand’s bottom line profitability.
Graas is co-founded by serial entrepreneurs and martech veterans, Ashwin Puri and Prem Bhatia. Graas is backed by several high profile investors, including Galaxy (Kejora-led SPV), Performa (multi- billion European Asset Manager-led SPV), Integra Partners, Yuj Ventures (Xander Group), AJ Capital and angel investors from across SEA and India. Graas operates under the holding company Solv Pte Ltd and was established following the full acquisition of Southeast Asia’s marketplace specialist, SELLinALL and India’s D2C and data specialist, Shoptimize Inc in 2022. For more information please visit: www.graas.ai
Appendix – Bios
Nathalie Pellegrini, Chief Growth Officer
Nathalie is a performance marketing professional with over 16 years of experience in the ad and martech industries. Her previous role was Chief Performance Officer at Mindshare Asia Pacific, where she oversaw all digital, performance marketing, e-commerce and data driven audience strategies. In addition to this, she was responsible for leading a number of top strategic regional clients. Prior to Mindshare, she led iflix’s global digital efforts to maximise new customer acquisitions and go to market strategies across 30 countries.
Ujjwal Sarao, Chief People Officer
With over 20 years of experience in people management, Ujjwal brings a strategic focus on being an in-house strategic business partner working with leadership roles across Asia Pacific focussing on team & organisational effectiveness, executing and scaling strategy, service delivery and measurement. Her experience has largely focused on building capability to support & deliver a transformation agenda. Her past HR leadership roles have covered companies such as Aegis Media, Dentsu and Publicis.
Trisnia Anchali Kardia, VP, Head of Business Indonesia
As the Head of Business Indonesia, Anchali will be looking to leverage her 16 years of experience within both the media and the digital industry to help accelerate Graas’ growth in Indonesia. Her experience has largely been focused on sales, marketing, business development, and strategy. Prior to her current role, she was the Chief Commercial Officer of LINE Indonesia, where she headed business, product, marketing, operation, and monetization for B2B and B2C. Her other stints include head of sales at Zomato Indonesia, part of the pioneer team in Telkomsel Digital Advertising, and head of sales at Living Social.
Rika Ninomiya, EVP Product Marketing
Rika has over 10 years of experience in the eCommerce tech space, ranging from roles in advertising, digital marketing, client management, partnerships and acquisitions. Prior to her role at Graas, Rika was Chief of Business at SELLinALL (now a Graas company), scaling the eCommerce enabler from USD 100 to USD 100,000 GMV a day. Outside of her corporate role, Rika also founded a Lifestyle Discovery Platform that includes a Loyalty Programme in Australia.
Sathya Ramaganapathy, EVP Marketing
Sathya brings over 20 years of experience in marketing, with leadership roles in the B2B Product Marketing, Sales and Account Management, SaaS Product Management, and Delivery. Her previous role was VP Marketing at Shoptimize (now a Graas company), and prior to that she was VP and Head of Corporate Business at Jigsaw Academy (a Manipal Group company). In addition to her corporate role, she is a published author and blogger.
Logistics Startup MOVIN expands its network to 28 cities, adds a new strategic hub in Mumbai
Plans to develop 10 more hubs by Q1 2023 to connect more regional centers
MOVIN, a logistics Startup launched in May this year through a joint venture between UPS and InterGlobe Enterprises has announced the expansion of its network to 28 cities across metros and Tier I & II markets. As part of its strategic expansion, MOVIN is also establishing its hubs across the country with the most recent one being added in Bhiwandi, Maharashtra. MOVIN plans to develop 10 more Hubs as part of its strategy to connect more regional centers by Q1 2023. This will further strengthen its offerings and boost its capability to capture the ever-expanding opportunity in the B2B logistics space.
Through this expansion of operations, supported by tech-driven innovations, MOVIN’s Express End-of-day and Standard Premium delivery services will now be catering to B2B customers across more than 2000+ pin codes. MOVIN’s unique offering includes a fully predictable, day and time definite service across the country. Its rapidly growing network over both air and ground enables an uninterrupted flow of goods that is backed by consistent, predictable, and responsive operations. MOVIN’s expansion by establishing new hubs across India, increasing the number of pin codes for pickup and delivery, collaborating with multiple stakeholders and operating dedicated customer experience centers is setting a benchmark in service quality and providing value-based solutions to the customers.
The Express End-of-Day network covers 28 cities including Ahmedabad, Amritsar, Baroda, Bengaluru, Bhopal, Bhubaneshwar, Chandigarh, Chennai, Cochin, Coimbatore, Delhi-NCR, Goa, Hyderabad, Indore, Jaipur, Jalandhar, Kanpur, Kolkata, Lucknow, Mangalore, Mumbai, Patna, Pune, Raipur, Ranchi, Surat, Vijayawada and Vishakhapatnam catering to 2000+ pin codes.
MOVIN’s Standard Premium network is present across 13 cities namely Ahmedabad, Bengaluru, Chandigarh, Chennai, Cochin, Coimbatore, Delhi-NCR, Hyderabad, Jaipur, Kanpur, Lucknow, Mumbai, and Pune.
“MOVIN’s remarkable growth since its launch in May this year has been in line with our strategy of adopting a partner driven approach by enhancing capabilities for partners through customized technology driven training. We are expanding rapidly by connecting metros, Tier l & Tier ll cities with our strategic hubs through regional centers, offering greater coverage to our customers. Our strategic Hubs offer competitive time in transit for our Standard Premium services connecting cities in North, West and South India. Customer satisfaction is our top priority, which we strive to achieve through operational automation and reliability. MOVIN’s recent expansion is a result of the tremendous response from our B2B customers across segments of apparel, electronics, IT peripherals, automotive components, healthcare, and e-commerce,” said JB Singh, Director InterGlobe Enterprises and Board Member of MOVIN.
The expansion further showcases MOVIN’s ability to collaborate and adapt while providing enhanced predictability, better customer experience and greater competitiveness to help Indian businesses swiftly integrate into the global value chain. “We are committed to providing best-in-class customer experience by bringing in higher levels of efficiencies, stronger distribution channels, advanced innovative technology and global best practices,” Mr. Singh added.
MOVIN will continue to grow its reach across India and will soon expand its Express Early Morning (before 10:30 am) and Express Mid-day (before noon) service.
MOVIN Express Private Limited is a joint venture between UPS and InterGlobe Enterprises. The name MOVIN is the combination of Movement and India (MOVEMENT+INDIA). MOVIN’s logistics services are built for Indian businesses in the fast lane. Its pace and agility will match their ambitions, and its service levels will exceed their expectations. MOVIN offers a suite of B2B domestic services including a fully predictable, day-definite service, as well as express, time definite service across the country. With seamless integration across air and ground networks, these express corridors are enabling an uninterrupted flow of goods, backed by consistent, predictable and responsive operations.
This News has been Published in Partnership with PR Newswire
Future™ Secures $5.3M Seed Investment to Pay You to Fight Climate Change.
The fast-growing fintech is building the most rewarding way to pay for consumers and the planet.
Future™, the movement to accelerate the shift to a low-carbon economy through financial rewards, has raised $5.3M in seed funding. Led by Accomplice, with participation from Active Impact Investments, Techstars Ventures, Urban Impact Ventures, Climate Capital, and the author, activist, and host Baratunde Thurston.
Future is empowering consumers to reduce their carbon emissions and earn extra cash. While most cards give the highest rewards for activities with a high carbon footprint, like flying or filling up your tank, FutureCard Visa Card gives its highest rewards in the fast-growing low-carbon economy. Future offers up to 6% cashback on greener alternatives to everyday spending across transportation, food, fashion, devices, beauty, and furniture. There’s no interest, and Future doesn’t use members’ points to plant trees or buy other carbon offsets. Instead, the focus is on making low-carbon products and services more readily accessible for families and individuals across America.
“We are thrilled to lead this investment in Future,” said Ryan Moore, Co-founder of Accomplice. “More and more consumers across the country are looking for simple and rewarding ways to do right by our planet. Future is building a new category of financial product that helps them do just that.”
Future was founded in the fall of 2021 by Jean-Louis Warnholz and Kamal Bhattacharya and has since grown to over 20 team members across product and engineering, growth, partnerships, and operations. “There’s a common misconception that reducing carbon emissions in our day-to-day life is hard and expensive,” said Jean-Louis Warnholz, Future’s CEO. “Future is on a mission to change that by connecting our members with brands, products, and services that are good for your wallet and good for the planet.”
With this seed round of funding, Future will launch even more rewarding ways to tackle climate change and will add more game-changing brands to the rewards ecosystem. Current FuturePartners, with elevated 6x rewards and weekly raffles, include Back Market, Rad Power Bikes, Just Salad, Ministry of Supply, For Days, Earth Hero, Fulton, Everlasting Wardrobe, and Hilos. To learn more about Future and to reserve a FutureCard, click here.
“There has been so much innovation in expanding low-carbon choices for consumers, from plant-based protein and circular fashion to electric mobility,” said Mike Winterfield, Founder of climate VC Active Impact Investments. “Future is leveraging AI to maximize the benefits of the emerging low-carbon economy for consumers and the planet.”
About Future™: Future is building a payments and rewards ecosystem for the low-carbon economy, inspiring the shift to low-carbon products and services with outsized financial incentives. Future pays consumers to reduce their carbon footprint. Future launched the FutureCard Visa Card, initially with 5% cashback for climate-friendly purchases and a proprietary FutureScore to track individual impact on the climate and get personalized recommendations to earn more cash and emit less carbon.
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