Telcos enter ecommerce business
Mobile wallets need to find the right ecommerce partner to try to get users onto their e-wallets. And ecommerce platforms need a network of offline retailers to help boost their brand. Telcos are getting into ecommerce to attract users to their e-wallets. Mobile digital wallet Idea Money and ecommerce platform ShopClues are partnering to allow offline retailers to book and sell products on ShopClues. A joint statement says "Idea Money has partnered with ShopClues to sell products through its Retailer Assisted Model (RAM) via local retailers. The partnership will help millions of on ground customers who may not have access to the internet, to make easy, convenient and secure purchase transactions.....On making a purchase, customers will be able to make payments through Idea Money wallet to ShopClues. The product will then be delivered by ShopClues to the customer's desired point of delivery". Idea Money, through network of retailers, will help ShopClues to increase brand awareness in tier 3 and 4 markets and boost assisted e-commerce business.