Virtual credit cards in China as bank partners Alibaba and Tencent. (alizila)
Ever heard of Virtual Credit cards?
Two top Chinese internet companies, Alibaba and Tencent (the WeChat guys) announced the introduction of these yesterday. The cards can be used offline as well as online. Both companies are teaming up with a China CITIC Bank, one of China’s largest banks.
It doesn’t sound ground-breaking looking at it from the perspective of these two internet companies, but they have a common backing bank for a reason. If you look at it from the angle of a traditional bank now going into virtual credit cards and stuff like approving the creditworthiness of applicants based solely on the consumers’ online shopping histories (generated by these sites) then it gets interesting. See more here: alizila
Online classifieds venture Quikr raises $90 million in a round led by Kinnevik (YourStory)
An indian classifieds website, Quickr, has raised $90 million, in a bid to be the top classifieds website in the country. The $90 million came from a group of investors led by Swedish investment firm Investment Kinnevik.
Writes YourStory: “Quikr has raised close to $150 million till date in seven rounds over the last six years and claims to receive more than 30 million visitors each month. Quikr’s closest competitor in India is Argentina based OLX which is also heavily venture backed and has been neck to neck with Quikr.”
LeadPath launches accelerator to invest up to $100,000 in Nigerian Startups (TechCabal)
Last week a new Nigerian Accelerator, LeadPath, launched its programme. LeadPath Accelerator. According to TechCabal, “LeadPath will make seed investments in startups doing business in software applications, mobile applications, electronic payments and big data. Typical investments range between $25,000 to $100,000 in the first instance, as well as follow-on investments from LeadPath and other venture funds. LeadPath will also offer office space, mentorship and other services to their investees, helping them achieve scale and success in a promising but challenging market.”
Oscar Pistorius trial trumps Football World Cup 2014 (MyBroadband)
One of South Africa’s leading online tech publications, MyBroadband, writes that a media monitoring group, Data Driven Insight, has released figures showing that Oscar Pistorius’s murder trial is bigger than the Fifa World Cup.
- Temporary restriction prompted about 2500 articles.
- In 24 hours, news and social media hit over 106,000
- Pistorius having retched in court was carried in 2300 news articles.
- 8800 articles an hour (on day one) to 9200 in the 3pm hour on Friday (7 Feb)