It’s an exciting time for E-Commerce and FinTech in Asia.
China surpassed the USA in 2013 as the world’s largest e-commerce market. Chinese online sales counted for 12.9% of total social retail sales in 2015, and the market is dominated by two giants JD.com and Alibaba’s Tmall.
But all eyes are now on the Indian market, the new battlefield due to a fast-growing middle-class and the world’s fastest smartphone penetration. By 2030, the size of the e-commerce market there should grow from $20 billion currently to $300 billion. Local leaders Flipkart and Snapdeal are competing against international players Amazon, entered in 2013 and Alibaba in 2015.
South-east Asia is another huge untapped market with less than 1% of shopping actually taking place online today, but the region is poised to eventually become the third-largest e-commerce market in the world, second only to China and India.
Why are we going to Cards & Payments / E-Commerce Show Asia ?
In this context, Innovation Is Everywhere is looking forward to attend the Terrapin series of events on 19-22 April 2016:
- The Retail Technology Show Asia and the E-commerce Show Asia, to watch for retail innovation and listen to the CEO of the first 100% mobile e-commerce platform Myntra (India), the SVP of the second largest ecommerce platform in India, Snapdeal, and some of the most funded startups in ecommerce and O2O in Southeast Asia: Luxola, Redmart, FoodPanda and GrabTaxi.
- The Cards & Payments Asia and the Financial Inclusion Summit Asia, to look at how the unbanked “bottom of the pyramid” can access financial services. 5 billion people globally don’t use formal banks or finance institutions. Innovative solutions such as Lenddo in the Philippines or Indialends in India are trying to connect consumers and SMEs with lenders and investors based on a social credit score. We also look forward to listen to the CEO of PonselPay, a disruptive ecosystem for Indonesians to use their phones as virtual accounts and transfer funds anywhere. Many bitcoin-related startups try to cut the high fees on remittances imposed by Western Union, like BitSpark based in Hong Kong that will be speaking at the event as well. We are also interested in continuing the discussion started at the Future of Commerce meetup organized by Terrapinn as a pre-event about how Fintech startups will disrupt banks and telecom operators, and listen to the banks’ reaction as they will be talking at the event as well.
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