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Today In Payments Around The World: Mytheresa’s Parent Files For IPO; Ant Considers Moving Financial Services To Holding Company

In today’s top payments news around the world, Mytheresa parent company MYT Netherlands Parent B.V. said it has filed a registration statement to go public, while Jack Ma’s Ant Group is said to be considering moving all of its financial services units to a holding company. Plus, India-based Zomato has reportedly teamed with InCred for credit facilities to restaurants.

Luxury Retailer Mytheresa’s Parent Company Files for IPO

MYT Netherlands Parent B.V., which is Mytheresa’s parent company, said it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to go public. The quantity of American depositary shares to be provided and the price range for the potential offering have not been worked out as of yet.

Ant Mulls Rerouting Financial Services to Separate Holding Company

Jack Ma’s Ant Group is reportedly mulling migrating each of its financial services units to a distinct holding firm that would be regulated like a bank. The People’s Bank of China (PBOC) indicated per a published report that Ant is in the process of developing a game plan for the new firm that would put all of its financial services companies under a single umbrella.

Report: Zomato Teams With InCred for Loans to Restaurants in India

Zomato, the India-based food delivery company, has reportedly collaborated with FinTech company InCred to provide its restaurant partners with credit facilities. The nation’s flourishing food delivery industry is one of the segments most affected by the coronavirus health crisis.

Surge in eCommerce Has Port of Los Angeles Facing 50 Pct More Cargo Shipments Than First Half of 2020

A large quantity of shipments has slowed down operations at the country’s most active container port complex, the Port of Los Angeles. A port official said that cargo volume is up 50 percent in the latter half of this year from what came into the port through the first half of this year, according to a published report.

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