Retail Giant Walmart Focus on Hiring Digital, Cryptocurrency Lead

Walmart, the largest US retailer by total sales, has stated that it is looking to hire a digital currency and cryptocurrency product lead. The company has stated that this new role seeks to provide leadership with ways to identify technology and current customer trends. Part of the role's remit will also include driving the retail giant's digital currency strategy. Investments needed to build on those existing trends will also be advised by the crypto product lead.

It is likely that Walmart is making moves to accept cryptocurrency as payment. Besides, in 2019, the company applied for a patent on price-stable crypto similar to Facebook's nascent project, which was called Libra. Walmart has also experimented with distributed ledger technology for many nonfinancial uses like tracking drugs and food along the supply chain.

Now Walmart has created a fintech unit called Hazel. This move has now signaled the big-box retailer has not lost its appetite for a piece of the consumer finance pie. It is only a matter of time before the world's retail giants open the floodgates by enabling crypto payments; the rest will follow pretty quickly when that happens.

 

 

Due to shortage of supplies and pressure on the supply chain, back-to-school shopping is expected to be a bit different from the previous year

It is a well-known fact that the back-to-school season is a peak time for family shopping. Generally, the children from elementary school to high school are expected to spend more than $850 in school supplies this year—which is more than $60 than 2020. According to the reports from National Retail Federation, the total back-to-school spending is projected to reach a whopping $37.1 billion this year. Parents will have to deal with a shortage of high-demand items this year.

GlobalData Retail’s MD, Neil Saunders, has stated that some important products like sneakers, backpacks, stationery, and gadgets are expected to be in high demand while the supply chain might not be in a position to fulfill all the Demands. He furthermore added that the supply shortage might not reach catastrophic levels, but continued pressure on the supply chain will hurt their operations, and there is a chance that not all the retailers will get a minimum amount of supply to meet the demands. This will lead to the consumer having to select from a small range of supplies, and few may not even be able to get exactly what they wanted, especially during the end of the season. Parents are now choosing online modes for purchase, and retailers are trying to adapt to the new norm.

 

UnionPay International to Launch Tajikistan’s First Contactless E-Wallet

UnionPay International (UPI) has announced that it is partnering with International Bank of Tajikistan to launch the country’s maiden contactless e-wallet. This will make UnionPay the very first payment brand to offer mobile contactless payment services in the country.

This expansion into Tajikistan will mean that UnionPay mobile payments will now reach to 10 million. UnionPay’s standard e-wallets are present in over 20 countries and regions, including Macao, South Pacific, Hong Kong, and Southeast Asia. The company has rolled out an astounding ten e-wallets in the second quarter of this year.

UPI is continuously applying its technology, specifications and market experience of the Chinese mainland mobile payments to the international market successfully. It offers a variety of wallet products such as the UnionPay App, mobile QuickPass and QR code e-wallets outside the Chinese mainland. Users can enjoy diverse payment experiences with a scan, tap or click.

“The e-wallet launched in Tajikistan reflects these features. Local POS terminals supporting UnionPay QuickPass account for over 80% of the total, and the International Bank of Tajikistan has also issued a large number of UnionPay cards within the country over the past three years,” said UPI’s press release.

 

HSBC to Acquire AXA Singapore for $575 Million

HSBC’s Asian arm has entered into a definitive agreement which will see them acquire 100% of the issued share capital of AXA Singapore. HSBC is buying the life insurer for a reported $575 million.

HSBC in its press release has said that the acquisition of AXA Singapore is a “key step” in becoming the leading wealth manager in Asia. Post the completion of the transaction HBSC Life Singapore and AXA Singapore will combine their operations.

“This is an important acquisition that demonstrates our ambition to grow our Wealth business
across Asia. Wealth is one of our highest growth and highest return opportunities, and plays to our strengths as an Asia-centered bank with a global reach. We are acquiring a good business that fits well with our existing operations, and which strengthens our status as one of Asia’s leading wealth and insurance providers,” said Noel Quinn, Group Chief Executive, HSBC Holdings plc.

There is a growing population of affluent and high net worth population in Singapore and across Southeast Asia that is driving the demand for health and insurance solutions for individuals, their families and SMEs. HSBC’s expansion in Singapore will help it reach this demography in Singapore and the region.

The acquisition will create a combined business that will make HSBC the 7^th largest life insurer and 4^th largest retail health insurer with over 600,000 policies in-force covering life, health and P&C1.

 

Singapore-based Cloud Delivery Platform Parcel Perform Raises $20 million

 

The cloud-based delivery experience platform Parcel Perform announced that it has secured $20 million in Series A funding. The round was led by Cambridge Capital, with new investor SoftBank Ventures Asia. Existing investors Wavemaker Partners and Investible joined the round too.

The Singapore-based company manages over 100 million parcel tracking updates every day and provides real-time visibility of tracking data. It also helps businesses to increase customer lifetime value by up to 40%. The company has seen fantastic growth, with its revenues growing five times since the onset of the COVID-19 pandemic.

“We are thrilled that our investors recognize our ability to build a sustainable and profitable business by serving some of the most sophisticated enterprise customers worldwide to help them boost their customer satisfaction online,” said Dr. Arne Jeroschewski, CEO and Co-founder of Parcel Perform. 

Parcel Perform will be using the fresh funding to support its global expansion and recruitment efforts. The company will also use the funding to build its technology offerings and invest in AI solutions, which will include scaling its proprietary ‘Date of Arrival’ prediction engine which allows customers to know precisely when their parcels will arrive. Further, the company also plans to establish a regional headquarters in North America and grow its global employee count to 150 by the end of this year.

 

HONOR Magic3 Series to Feature Qualcomm’s Snapdragon 888 Plus 5G Platform

The technology brand HONOR has announced its new HONOR Magic3 Series. This new series by HONOR will include HONOR Magic3, HONOR Magic3 Pro, and HONOR Magic3 Pro+. The brand new Magic3 Series has the backing of the new Snapdragon® 888 Plus 5G Mobile Platform. This new platform has been upgraded from the Snapdragon 888 in terms of CPU and AI computing. The new chipset has boosted the AI performance by 20%.

HONOR announced the launch of the Magic3 Series in a special event. “HONOR has always showcased our most innovative ideas through the HONOR Magic Series, and the HONOR Magic3 Series continues this legacy,” said George Zhao, CEO of HONOR Device Co, Ltd. “Representing HONOR’s vision for the future of mobile technology, we are proud of the industry partnerships we’ve forged which have helped in the development of this ground-breaking new smartphone as well as the continued efforts from our R&D team to reintroduce HONOR to the global market, in a never-before-seen display of exceptional technology.”

Along with the Snapdragon 888 Plus 5G Platform, the HONOR Magic3 Series will also feature OS Turbo X, which was transferred to the Snapdragon 8 series chipset for the first time. It contains Low-latency engine, Anti-aging Engine, Smart Memory Engine that improve fluency, anti-aging, and allow more apps to remain alive in the background.

Additionally, HONOR’s LINK Turbo X, a self-developed state-of-the-art technology, will help the HONOR Magic3 Series successfully make use of Wi-Fi and cellular networks together to deliver a peak download speed of 6.1Gbps10, the fastest download speed available on a smartphone today.

 

India’s Lenskart to Recruit 2,000 Employees by 2022

Indian eyewear brand Lenskart has said that it will be hiring over 2,000 employees in India and 300 more overseas by 2022 to reach more people.

Over the next few years, Lenskart is going on the offensive to expand its consumer base. The company will hire 1,500 employees to add to its retail locations and more than 100 engineers to beef up its technology team across India. In addition to this, Lenskart will recruit over 300 employees to join its supply chain and manufacturing operations. One hundred more people will be hired for corporate functions.

“We have continued to grow exponentially, in international markets as well as in India, and we are building a strong presence in regional markets as well through our stores and e-commerce. This has opened up several job opportunities across Lenskart to serve and delight our customers at a huge scale. So, hiring is a key aspect in our growth journey, and we are looking at actively hiring skilled talent across verticals for regions like Hyderabad, Bengaluru, Mumbai, and Delhi, among others,” said Lenskart’s CEO and founder Peyush Bansal, in a statement.

Founded in 2010, Lenskart has a huge presence as an eyewear brand in India. It has over 5,000 employees on its payroll, including engineers, designers, and data scientists. The company serves over 7 million people all over the world.