Ecommerce marketplace, ShopClues is set to take a step into the world of online payments space, as it is reportedly acquiring Momoe Technologies. The deal could be worth as much as $15 million. Its understood Momoe’s 40 employees will be absorbed into ShopClues’ team.
Last year, Snapdeal bought FreeCharge to scale up its online payment service, which would compete with Paytm’s mobile wallet. In August, Flipkart took over FX Mart and recently utilised its expertise to launch Flipkart Money Mobile wallet. Next on the list of big marketplaces, was Amazon who acquired payment solutions company, Emvantage just last month. It has plans to launch a mobile wallet within 3 months.
Editor team is specialized in introducing the marketplace content targeting the Indian online sellers. They plan and coordinate to bring the appealing content for the small businesses on how to partner with the e-commerce sites like Amazon and Flipkart and strategies for improving their online business.
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