e-commerce
Indian mobile shopping purchases on the rise: MasterCard survey
MUMBAI: Purchasing patterns in the country are seeing a change. While visits to the kirana store continue, online purchases made through mobile phones in India have grown by more than 100 per cent over the past two years. This indicates a steep upward trend in e-commerce propelled by expediency, reveals the MasterCard Online Shopping Survey 2014, which covered 14 countries across Asia Pacific.
China continues to lead the chart among mobile shoppers with 70.1 per cent of the respondents polled having used the device to make online purchases. India (62.9 per cent) and Taiwan (62.6 per cent) follow next with Thailand (58.8 per cent) and Indonesia (54.9 per cent) rounding off the top five.
Some of the key takeaways of the report:
-India ranks second with 81.2 per cent of respondents accessing the internet for online shopping while China leads with 86.6 per cent.
-95 per cent of Indian respondents with a mobile phone have access to the internet through it (up by 20.2 points since 2012)
-The number of Indian respondents, who have made at least one purchase in the last three months, has increased from 70.9 per cent in 2012 to 94 per cent in 2014.
-The major factors impacting online purchases include the security of payment facility (86.8 per cent) followed by the price or monetary value of items (86.6 per cent) and convenient payment methods (86.2 per cent)
MasterCard South Asia area head Vikas Varma said, “Digital payment solutions like mobile banking apps and digital wallets will go a long way to further enrich the purchasing experience for the evolving consumer. The survey shows that there is a strong need to provide not only secure, but also convenient payments solutions as consumers move to a more digital and sophisticated lifestyle.”
Furthermore, in India the top three reasons for driving smart phone shopping were the ability to shop on the go (47.7 per cent), the growing availability of apps that makes it easier to shop (45.3 per cent) and convenience (38.1 per cent). Mobile phones/mobile gadget apps topped the list of items purchased through smartphones (28.8 per cent), followed by tickets for cinema and movie theatres (26.7 per cent) and clothing/fashion accessories (24 per cent).
For online transactions, the most common payment methods used are debit cards and cash. New mobile technologies are also gaining traction among consumers in the region, with mobile banking apps having the highest awareness-familiarity levels (38.3 per cent) followed by in-app shopping (28.7 per cent) and digital wallets (24.4 per cent).
e-commerce
American Express to acquire AI startup Hyper to boost automation
Deal targets expense management as AI reshapes corporate spending tools.
MUMBAI: From receipts to robots, the expense sheet is getting a brain upgrade as American Express moves to bring artificial intelligence into the heart of corporate spending. The company has announced plans to acquire Hyper, a relatively young but fast-rising startup founded in 2022 that builds AI-powered agents capable of organising expenses, generating reports, verifying compliance with budgets and policies, and nudging users with timely reminders. The deal, expected to close in the second quarter of 2026, underscores a growing shift among financial institutions to automate traditionally manual, time-heavy workflows.
Hyper counts Sam Altman among its backers, adding a layer of Silicon Valley credibility to the acquisition. While financial details remain undisclosed, the strategic intent is clear: deepen automation capabilities and sharpen American Express’s position in the competitive corporate spending ecosystem.
The two companies are not strangers. They previously collaborated in 2024 on a co-branded credit card product, suggesting that the acquisition is less a cold buy and more an extension of an existing relationship. With this move, American Express is effectively bringing that capability in-house, aiming to embed AI directly into its commercial services stack.
Chief executive Stephen Squeri had already signalled the direction of travel in a recent shareholder letter, describing AI as a “structural shift” in how businesses operate. The Hyper acquisition appears to be a direct response to that shift, particularly in expense management, where processes such as approvals, compliance checks and reporting remain ripe for automation.
Alongside the acquisition, the company is also expanding its product suite. A recently launched business credit card offers cashback and benefits at an annual fee of $295, with another card expected later this year moves that complement its broader push into commercial services.
Taken together, the strategy points to a future where managing expenses may require fewer spreadsheets and more algorithms. For American Express, the bet is simple, if businesses are rethinking how work gets done, the tools that power that work need to evolve just as quickly.
