Today In Payments Around The World: JD.com Touts $25.7B Q3 Net Revenues; Ozon Considers $750M Initial Public Offering
In today’s top payments news around the world, JD.com saw its Q3 2020 net revenues increase to $25.7 billion, while Ozon is now considering plans for a $750 million IPO. Plus, Finland is progressing with legislation that would allow individuals to modify their personal identity codes some instances.
JD.com saw its Q3 2020 net revenues jump to $25.7 billion, up 29 percent from the same timeframe the year before. The rise comes during a COVID-19-fueled rise in online shopping, JD.ID, the company’s Indonesian online shopping subsidiary, experienced 1,300 percent expansion in year-on-year sales volume during its newest promotional campaign.
Russian eCommerce retailer Ozon is upping the ante and bolstering its intended initial public offering (IPO) by half. The company is now reportedly mulling plans for a $750 million IPO in the U.S. to raise funds for growth back home. That figure is higher than a past target of $500 million, marking a rise of $250 million, as Ozon’s revenue jumps amid a shift to eCommerce.
Finland is advancing with legislation that would allow individuals to modify their personal identity codes in some cases after a cyberattack that exposed patients’ mental health records in October. Each resident is given a personal identity code at birth that lets them use a number of public services in addition to some private services.
Japanese tech company Rakuten is debuting a new subsidiary to strengthen brick-and-mortar stores. Rakuten DX, as it is tentatively named, will roll out new programs for digital transformations at merchants’ physical stores. The subsidiary is tracking to roll out in January 2021 to meet the growing demand for eCommerce and digital payments.
“Customer expectations are on the rise for new online services and seamless experiences across online and offline retail from supermarkets and other businesses operating brick-and-mortar retail stores,” Rakuten said.