Qoo10 partners with Bank of China to launch credit card – [Press Release]
Singapore-headquartered e-commerce portal, Qoo10, has partnered with Bank of China to release a co-brand Mastercard credit card. Qoo10 shoppers who use the card to make purchases on the store will stand to get up to 20 per cent in rebates.
The rebates will come in the form of Qoo10’s own credits, called ‘Qmoney’. These credits can be used to offset future purchases on the store.
“This partnership with Bank of China helps us elevate our offerings for our database of more than 3 million registered users by allowing them to get more of what they love – better value and convenience even beyond the Qoo10 platform,” said Cho Hyun Wook, Country Manager, Qoo10 Singapore.
Qoo10 has previously collaborated with Bank of China to develop a Point-of-Sale (PoS) system. It was used in Qoo10’s offline fair in Singapore early this year.
China is working with US to remove ZTE sanctions – [Wall Street Journal]
China is working on a deal with the US government to ease sanctions on the embattled Chinese telecom company ZTE. President Trump recently tweeted that he and President Xi are “working together to give massive Chinese phone company, ZTE, a way to get back into business, fast.”
Last month, US banned its companies from selling equipment to Chinese phone maker ZTE for seven years.
The ban was enacted after the phone maker was found to have breached an agreement on taking punitive actions against employees when it was discovered to have shipped US goods to Iran illegally (where it has sanctioned trade); it had already previously paid a US$890 million fine for the violation.
Vietnam-based lifestyle subscription service WisePass receives funding – [Press Release]
Vietnam-based lifestyle subscription service, WisePass, has raised US$150,000 in seed funding from angel investors that include a former executive of Uber Singapore.
Founded in 2016, the portal allows members to redeem deals such as Starbucks coffees and movie tickets using a monthly pass. Currently, there are over 500 members on the platform, and it has partnered with nearly 200 venues across 3 countries.
WisePass previously received seed funding from Expara Ventures and VIISA in 2017.
Indonesia-based beauty services startup HelloBeauty receives seed funding – [e27]
Indonesia-based beauty services marketplace and community HelloBeauty on Monday announced that it has raised an undisclosed seed funding round from Nest Corp.
The newly-raised funding will be used to ramp up product development so that the platform can serve as a better support system for beauty services providers. To date, HelloBeauty has over 2,700 beauty artists and has more than 500 premium subscribers on its platform.
It plans to launch a mobile app very soon.