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Ecommerce

IE Singapore: three joint companies conclude first deal in Southeast Asia

Thursday 9 November 2017 | 12:12 PM CET

Three ecommerce services companies from Singapore have concluded a first USD 73,459 deal in Southeast Asia as part of IE Singapore initiative to help companies offer services to the region`s ecommerce market.

The deal was won by Shopmatic, Red Dot Payment and iCommerce Asia as part of IE Singapore's efforts to develop a network of Singapore ecommerce companies, which will offer complementary services to the Southeast Asia ecommerce market.

IE Singapore – the government agency which partners local enterprises to help them go global – is assisting in creating partnerships, which bring together different companies offering complementary solutions, aimed at capturing opportunities in the region.

IE Singapore is working with Shopmatic and Octopus Retail Management – a company offering front and back-end solutions for merchants in the retail and F&B industry – to develop an integrated online-to-offline (O2O) ecommerce solution targeting O2O retailers in India.

The agency will conduct business missions to India, Indonesia, South Korea, Latin America and Vietnam in 2018 to help Singapore companies deepen their understanding of the local ecommerce landscapes, and will organise discussions in November 2017 to help them better understand challenges faced by small and medium enterprises in regional ecommerce projects.

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