Lazada, Mastercard in 5-year partnership to develop e-commerce ecosystem in S-E Asia
ALIBABA-backed Lazada, and payments stalwart Mastercard have inked a five-year partnership to work together to grow the e-commerce ecosystem in South-east Asia, they said in a joint release on Friday.
The companies hope that the collaboration will enable Lazada to serve brands and sellers on its platform better and build Mastercard's user base in the region. Merchants are also able to benefit from Mastercard's solutions.
To grow the e-commerce ecosystem, Lazada and Mastercard will develop marketing and education campaigns that are aimed at increasing consumer confidence and incentivising the use of digital payment methods through reward schemes.
Lazada will also be able to access Mastercard's regional and global sponsorship platforms and will be the anchor merchant for a number of new Mastercard solutions in select markets.
"Mastercard's data-driven insights will combine offline and online behaviours to help Lazada understand how to drive greater e-commerce growth within the growing base of Internet-savvy and mobile consumers in the region," the companies added.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
Gojek and ComfortDelGro Taxi to send untaken rides to each other’s platforms
SG fintech firm Bambu shuts down after missing profit targets, says founder
Telemedicine platforms evolve beyond virtual consultations
Funding concentration seen in emerging tech startups: SGInnovate report
Decarbonisation startup Accacia raises US$6.5 million
A cheat sheet of startup and tech M&As in South-east Asia