3 fintech startups selected for coaching, mentorship by PayPal in Singapore
By Calvin Hui Posted 07 Jul 2016 18:19 Updated 07 Jul 2016 22:43
SINGAPORE: Online payment company PayPal has launched its first startup incubation programme in Singapore with three financial technology, or fintech startups selected. The nine-month programme will offer the startups coaching and mentorship by PayPal executives and other experts, as well as networking opportunities.
Paypal on Thursday (Jul 7) also said the startups would operate from a conducive co-working space to promote collaboration and innovation.
One of these startups is Prosecure, which aims to allow online shoppers to return their products for free. Its co-founder Wei Zhu, who was formerly chief technology officer at ride-hailing app Grab, said free returns have helped merchants achieve 300 per cent in repeat sales. He added that free returns include the cost of shipping the product back to the online store.
Another company is Invoiceinterchange, a peer-to-peer platform that allows small- and medium-sized enterprises to raise money. These SMEs can auction unpaid invoices to investors, which CEO Brian Teng said can help improve cash flow for businesses and give investors an alternative investment option.
Aiming to eliminate the costs of sending and spending money, ONEPAY is the third startup under the programme. It taps on Bitcoin and Blockchain technology and allows users to make payments to nine million merchants around the world through NFC-enabled credit card terminals without incurring foreign exchange fees. ONEPAY's Chief Experience Officer Paul K compared the service to moving from sending messages with a fee, to using services such as WhatsApp, which is free.
The startups were selected based on criteria such as management team, differentiation of product and services as well as scalability and profitability of the markets they are aimed at.
- CNA/xk
- wong chee tat :)
Showing posts with label paypal. Show all posts
Showing posts with label paypal. Show all posts
Thursday, July 7, 2016
Friday, August 15, 2014
Singapore's CBD sees shifting mix of tenants: Jones Lang LaSalle
Singapore's CBD sees shifting mix of tenants: Jones Lang LaSalle
Tech companies such as Google and LinkedIn have been opening new offices or expanding existing ones in the city-state, Jones Lang LaSalle said in an article posted on its website.
SINGAPORE: Over the last three years, the global financial firms that dominated 60 per cent of office space in Singapore’s Central Business District (CBD) have given up 500,000 square feet (sq ft) in space. Taking their places are big names from the e-commerce, consumer products and insurance industries, according to real estate group Jones Lang LaSalle.
“Ten years ago all anyone wanted was financial houses because they saw them as a growing industry that had the ability to pay,” Mr Chris Archibold, Head of Markets for Jones Lang LaSalle in Singapore, said. “Now any intelligent asset manager wants a bit more of a mix.”
IT: THE NEW OFFICE SPACE GRABBERS
Tech companies like Twitter, Booking.com and eBay have been opening new offices or expanding existing ones in Singapore, Jones Lang LaSalle said in an article posted on its website. PayPal has placed its international headquarters in the city, while Facebook is looking to double its space and LinkedIn is taking up the 50,000 sq ft of space vacated by Barclays.
Google has expanded six times and its Asia-Pacific headquarters now span four floors at Asia Square in Marina Bay. The building, which also houses re-insurers such as Swiss Re and SCOR, has 400 bicycle racks and showers so staff of the search engine operator can bike to work.
“You have this very bizarre dichotomy of Citibank bankers in their shiny shoes and guys in flip flops and shorts in the same elevator,” said Mr Hugh Andrew, the head of asset management for Asia Pacific at BlackRock. BlackRock owns the building via one of its funds.
LIFESTYLE A DRAW
Singapore’s pleasant lifestyle has made it a draw for companies looking to attract top talent, according to Jones Lang LaSalle. For instance, cosmetics company L’Oreal moved many of its Asian operations from Shanghai to Singapore, one motive being the need to retain senior staff who demand higher standards of living and better education for their children.
Other companies which have moved to Singapore include General Motors, which moved its Asian headquarters from Shanghai, taking over 30,000 sq ft of space from the Bank of America Merrill Lynch. The insurer Aon is also building its Asia-Pacific hub in Singapore and toy-maker Lego is in the Marina Bay Financial Centre.
“For modern companies with young employees, they will want to know answers to questions such as ‘will I be working in a sustainable environment?’” Mr Andrew said. “Twenty years ago, people were just wondering how big their office was going to be, and if it came with a parking space?”
- CNA/cy
- wong chee tat :)
Tech companies such as Google and LinkedIn have been opening new offices or expanding existing ones in the city-state, Jones Lang LaSalle said in an article posted on its website.
SINGAPORE: Over the last three years, the global financial firms that dominated 60 per cent of office space in Singapore’s Central Business District (CBD) have given up 500,000 square feet (sq ft) in space. Taking their places are big names from the e-commerce, consumer products and insurance industries, according to real estate group Jones Lang LaSalle.
“Ten years ago all anyone wanted was financial houses because they saw them as a growing industry that had the ability to pay,” Mr Chris Archibold, Head of Markets for Jones Lang LaSalle in Singapore, said. “Now any intelligent asset manager wants a bit more of a mix.”
IT: THE NEW OFFICE SPACE GRABBERS
Tech companies like Twitter, Booking.com and eBay have been opening new offices or expanding existing ones in Singapore, Jones Lang LaSalle said in an article posted on its website. PayPal has placed its international headquarters in the city, while Facebook is looking to double its space and LinkedIn is taking up the 50,000 sq ft of space vacated by Barclays.
Google has expanded six times and its Asia-Pacific headquarters now span four floors at Asia Square in Marina Bay. The building, which also houses re-insurers such as Swiss Re and SCOR, has 400 bicycle racks and showers so staff of the search engine operator can bike to work.
“You have this very bizarre dichotomy of Citibank bankers in their shiny shoes and guys in flip flops and shorts in the same elevator,” said Mr Hugh Andrew, the head of asset management for Asia Pacific at BlackRock. BlackRock owns the building via one of its funds.
LIFESTYLE A DRAW
Singapore’s pleasant lifestyle has made it a draw for companies looking to attract top talent, according to Jones Lang LaSalle. For instance, cosmetics company L’Oreal moved many of its Asian operations from Shanghai to Singapore, one motive being the need to retain senior staff who demand higher standards of living and better education for their children.
Other companies which have moved to Singapore include General Motors, which moved its Asian headquarters from Shanghai, taking over 30,000 sq ft of space from the Bank of America Merrill Lynch. The insurer Aon is also building its Asia-Pacific hub in Singapore and toy-maker Lego is in the Marina Bay Financial Centre.
“For modern companies with young employees, they will want to know answers to questions such as ‘will I be working in a sustainable environment?’” Mr Andrew said. “Twenty years ago, people were just wondering how big their office was going to be, and if it came with a parking space?”
- CNA/cy
- wong chee tat :)
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