Freshly Squeezed: 06.09.19

Ally Feiam By Ally Feiam | 06 Sep 2019

Adyen partners with BradBank for advance global expansion and Alibaba acquires Kaola. Get a healthy dose of news as we uncover the day’s top stories in e-commerce and retail.

Facebook Launches Dating Service

Facebook has launched its first dating service in the US, called Facebook Dating. The service will integrate with Instagram and will offer a feature called Secret Crush. The Secret Crush feature will allow users to ‘compile a list of friends they have an interest in, to be matched with if the crush lists them as well’. The platforms claim that it will be more secure than Tinder, Bumble and other online dating services, but it’s already sparking concerns over privacy breaches.

Alibaba Acquires Kaola

Alibaba Group is acquiring Kaola, an import e-commerce company, owned by online gaming and entertainment company, NetEase. The acquisition is for $2 billion and will take a minority stake in NetEase Cloud Music. While the operation will run independently under its own brand – Alvin Liu, Tmall’s Import and Export General Manager will take over the role as CEO. “With Kaola, we will further elevate import service and experience for Chinese consumers through synergies across the Alibaba ecosystem,” said Alibaba Group’s CEO, Daniel Zhang. “Alibaba also looks forward to becoming a partner in the future development of NetEase Cloud Music and exploring innovative collaboration in the digital entertainment space.”

BrandBank Partners with Adyen

BrandBank has partnered with Adyen to ‘advance global expansion’. BradBank is the owner of Seed Heritage, a women’s fashion store with locations across the globe. This partnership with the payment platform aims to bolster the global expansion of the parent company and taking Seed Heritage international. “After establishing ourselves as a dominant player in the children and women’s wear business in Australia, the future is taking the Seed Heritage story international. Adyen is providing BrandBank with a gateway, risk management system and acquirer all rolled into one. The platform gives us the full breadth of payment capabilities we need to delight our customers while giving us the flexibility to rapidly roll into new markets,” explained Anthony Cronwright, Manager Strategic Projects and Business Improvement at BrandBank.

“Setting up our payments systems was a real pain point. The rollout process abroad was complex and time-consuming, with each country having different requirements. We wanted to remove some of those barriers to entry by establishing an end-to-end online and POS payments platform that we can easily replicate when moving into new territories. As a leading payments provider, Adyen was able to do that,” he continued.

Catch up on yesterday’s Freshly Squeezed news here.

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