Digital will influence $4 trillion in retail purchases in Emerging Markets by 2022

Mumbai: The value of digitally influenced spending in emerging markets will approach $4 trillion by 2022, amounting to about 50% of all retail spending in Asia, Latin America, and Africa. But the dynamics will vary widely between markets, requiring B2C companies to “de-average” their offerings in order to succeed, according to a Boston Consulting Group (BCG) report titled Digital Consumers, Emerging Markets, and the $4 Trillion Future. Half of the population in emerging markets worldwide is now connected to the internet, the report says—a stunning increase from 2010, when fewer…

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Fintech startup ZestMoney acquires PhotographAI to strengthen its AI capabilities

Bangalore: Fintech startup ZestMoney, one of India’s largest digital consumer lending platform has acquired PhotographAI, an AI-as-a-service platform offering various computer vision APIs. The strategic move will further strengthen ZestMoney’s capabilities in AI, visual AI and OCR. With this acquisition, ZestMoney is expected to have one of the most advanced automated credit assessment capabilities in the market. This is also a further step to delivering the most hassle-free automated and paperless credit products to more than 300 million households who currently do not have access to credit cards or any…

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Niki.Ai partners with fintech startups Earlysalary, LazyPay and ePayLater

Bangalore: Niki.ai, a player in the conversational commerce space, aims to make digital transactions simple, fast and convenient for one and all. The AI startup has partnered with fintech startups such as Earlysalary, ePaylater, and Lazypay, to enable a one-click checkout process during online transactions. Users can simply chat with AI bot Niki to buy products and make bill payments, without having to pay upfront. With upcoming regional language and voice support on Niki, it will all become even easier. Commenting about the LazyPay payment option on Niki, Pallav Jain,…

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