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Monday, 28 September 2020
When is Prime Day 2020? Everything we know about Amazon's big sale
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Prime Day 2020: Amazon reveals when annual sale will take place
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Amazon’s Prime Day kicks off on October 13th
Prime Day, Amazon’s annual deals extravaganza, will run from October 13th-14th, the company announced today. Amazon says the two-day shopping event will feature “over one million deals across every category,” including brands like Panasonic, Roborock, Keurig, Under Armour, Coleman, Adidas, Lacoste, Marvel, Ticwatch, and more.
Amazon is aiming to support small businesses on its platform by incentivizing customers to buy from them in the run-up to Prime Day. Starting today until October 12th, Prime members will receive a $10 credit usable on Prime Day by spending $10 at certain small businesses on Amazon. The company is also committing to spending more than $100 million to promote small business through Prime Day and the holiday season.
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ACMA approves GPS repeater trials in Sydney and Melbourne tunnels
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European Commission appeals EU General Court's decision to annul Apple's €13b tax bill
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LG Wing hands-on: Here's what it's like to actually use the weird swiveling phone - CNET
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Trump's TikTok ban has been blocked (for now)
Stimulus package talks are set to restart. What it could mean for a new check - CNET
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ATO wants to verify citizens are alive and physically present for myGovID registrations
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Google attacks extreme ways of ACCC news media bargaining code
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James Cameron confirms Avatar 2 and 3 are almost complete - CNET
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Philippines payment processing startup PayMongo lands $12 million Series A led by Stripe
Stripe has led a $12 million Series A round in Manila-based online payment platform PayMongo, the startup announced today.
PayMongo, which offers an online payments API for businesses in the Philippines, was the first Filipino-owned financial tech startup to take part in Y Combinator’s accelerator program. Y Combinator and Global Founders Capital, another previous investor, both returned for the Series A, which also included participation from new backer BedRock Capital.
PayMongo partners with financial institutions, and its products include a payments API that can be integrated into websites and apps, allowing them to accept payments from bank cards and digital wallets like GrabPay and GCash. For social commerce sellers and other people who sell mostly through messaging apps, the startup offers PayMongo Links, which buyers can click on to send money. PayMongo’s platform also includes features like a fraud and risk detection system.
In a statement, Stripe’s APAC business lead Noah Pepper said it invested in PayMongo because “we’ve been impressed with the PayMongo team and the speed at which they’ve made digital payments more accessible to so many businesses across the Philippines.”
The startup launched in June 2019 with $2.7 million in seed funding, which the founders said was one of the largest seed rounds ever raised by a Philippines-based fintech startup. PayMongo has now raised a total of almost $15 million in funding.
Co-founder and chief executive Francis Plaza said PayMongo has processed a total of almost $20 million in payments since launching, and grown at an average of 60% since the start of the year, with a surge after lockdowns began in March.
He added that the company originally planned to start raising its Series A in in the first half of next year, but the growth in demand for its services during COVID-19 prompted it to start the round earlier so it could hire for its product, design and engineering teams and speed up the release of new features. These will include more online payment options; features for invoicing and marketplaces; support for business models like subscriptions; and faster payout cycles.
PayMongo also plans to add more partnerships with financial service providers, improve its fraud and risk detection systems and secure more licenses from the central bank so it can start working on other types of financial products.
The startup is among fintech companies in Southeast Asia that have seen accelerated growth as the COVID-19 pandemic prompted many businesses to digitize more of their operations. Plaza said that overall digital transactions in the Philippines grew 42% between January and April because of the country’s lockdowns.
PayMongo is currently the only payments company in the Philippines with an onboarding process that was developed to be completely online, he added, which makes it attractive to merchants who are accepting online payments for the first time. “We have a more efficient review of compliance requirements for the expeditious approval of applications so that our merchants can use our platform right away and we make sure we have a fast payout to our merchants,” said Plaza.
If the momentum continues even as lockdowns are lifted in different cities, that means the Philippine’s central bank is on track to reach its goal of increasing the volume of e-payment transactions to 20% of total transactions in the country this year. The government began setting policies in 2015 to encourage more online payments, in a bid to bolster economic growth and financial inclusion, since smartphone penetration in the Philippines is high, but many people don’t have a traditional bank account, which often charge high fees.
Though lockdown restrictions in the Philippines have eased, Plaza said PayMongo is still seeing strong traction. “We believe the digital shift by Filipino businesses will continue, largely because both merchants and customers continue to practice safety measures such as staying at home and choosing online shopping despite the more lenient quarantine levels. Online will be the new normal for commerce.”
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NSW government plans to digitise school forms
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US federal judge blocks TikTok ban
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U.S. Judge Halts Trump's TikTok Ban, Hours Before It Was Set To Start
The decision grants TikTok a short-term reprieve, but the wildly popular app's fate still faces an extraordinary amount of uncertainty.
(Image credit: Anadolu Agency/Anadolu Agency)
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Powerbeats Pro: 9 tips and tricks to get the most out of Apple's wireless earbuds - CNET
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15 best TV shows to binge-watch on Amazon Prime Video - CNET
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The 10 best TV shows to binge-watch on Disney Plus - CNET
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Tenet explained: That ending and all those questions answered - CNET
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The 30 best TV shows to binge-watch on Hulu - CNET
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