e-commerce
ShopClues partners NSFDC to promote rural craft & artisans
MUMBAI: ShopClues.com, a multi-category online marketplace, has joined hands with National Scheduled Castes Finance & Development Corporation (NSFDC) to support hundreds of smaller sellers and artisans from backward classes to find a wider market for their goods.
The company has entered into an MoU with NSFDC, which is a Government of India undertaking under the aegis of Ministry of Social Justice and Empowerment. The vision behind this partnership is to provide a robust online marketing platform to the products made by NSFDC beneficiaries. This way, they expand their reach tremendously and the customers of ShopClues get ready access to their stellar productions.
ShopClues will also provide training, infrastructural support in marketing, data analytics and customer acquisition to the NSFDC beneficiaries. Their catalogues will become a part of the ShopClues’ National Retail Heritage (NRH), which has previously pushed sales for numerous local manufacturers and artisans. NRH is an effort by ShopClues to bring online, the most popular markets of India that are famous for their unique product offering.
ShopClues.com CEO & co-founder Sanjay Sethi said, “We saw an immense potential for the NSFDC beneficiaries in the e-commerce revolution that is happening in the country. They not only get to leverage our platform, but also gain confidence in their work thanks to the enhanced sales, professional training and exposure that they will get via ShopClues. We look forward to expanding the scope of our CSR initiatives in a similar manner that leads to a win-win situation for the retailers, for us and for our customers.”
NSFDC CMD RK Singh added, “The purpose of our association with ShopClues.com is to economically empower the scheduled caste artisans by providing them an online e-retailing platform and mentoring to organize them in cluster mode, upgrade their product quality and upscale their production to meet the marketing demand. This would enable them to earn sustainable incomes in the long run and become successful entrepreneurs. Online marketplaces like ShopClues has democratized brand-creation – so, we’re hoping that the merchandise produced by our community finds mass-appeal and these artisans get recognition in India and abroad.”
ShopClues will help the ministry to prepare catalogue of products for the beneficiaries with attractive pictures, accurate prices, descriptions etc. and display it on its website. It will also update this catalogue periodically to drive sales. The team at ShopClues will intimate the local sellers through e-mail, SMS or telephone about orders from buyers. Payments will be made to the vendor/seller through RTGS/NEFT after the delivery of goods. Also on the anvil is a classroom and on-the-job training for sellers on e-marketing-related subjects such as merchandising, quality management, packing and shipping of products.
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.
