PrimaDollar, a U.K.-based supply chain trade finance platform, is rolling out its services in India, a report from The Hindu Business Online says.
PrimaDollar’s platform works to connect importers, exporters, local banks, logistics providers and funders, the report says. Then the international supply chain is managed by the importer through one process, no matter how the goods are moved or where they’re coming from.
And because of that, the report says, the import supply chain can move onto standard open account terms, with Indian banks or international partners working on funding to make sure exporters are paid at shipment while importers pay later.
PrimaDollar India CEO Swati Babel cited the fact that the top 100 Indian importers bring in around $30 billion a year, saying PrimaDollar was estimating savings for that sector to be at least $50 million.
The PrimaDollar platform will aid Indian companies in becoming more competitive locally and internationally through reduced input costs for material and components needed for the development and manufacturing of goods.
The platform will let the corporate importer take control over the way the payments are disbursed and handled.
PrimaDollar, which has already launched in the U.K. and European markets, has adjusted its platform to fit with the unique regulations, customs and practices of Indian banks and the country’s foreign exchange control regime, the report says.
India’s market of food and grocery stores could be a target for modernization. The market there is different than in the U.S., PYMNTS writes, as local mom and pop stores navigate fragmented channels to try and get what they need. Ashish Jhina, co-founder and chief operating officer of B2B eCommerce platform Jumbotail, said the challenge would come in digitizing a largely cash-based, small-business-centric economy.
He said Jumbotail’s effort included a new digital eCommerce portal which the businesses can use to digitize operations.
Google has reportedly been ordered by Indonesia’s antitrust agency to pay fines of 202 billion rupiah (about $12.4 million) for alleged unfair business practices.
The agency found that the company abused its dominant position by threatening to remove app developers from its Google Play app store if they did not use its Google Pay Billing payment system services, Reuters reported Tuesday (Jan. 21).
It also found that Google Pay Billing charged higher rates than other payment systems, with fees of up to 30%, according to the report.
Google did not immediately reply to PYMNTS’ request for comment.
Indonesia’s antitrust agency, the KPPU, announced the launch of its investigation of Google’s business practices in September 2022.
“KPPU suspects that Google has conducted an abuse using its dominant position, conditional sales and discriminatory practices in digital application distribution in Indonesia,” the agency said at the time.
It said Google controlled a 93% market share in Indonesia, which is a country of 270 million people and has a fast-growing digital economy.
Google has faced legal challenges around its Google Play store policies in other countries as well.
In the United States, Google said in a November court filing that a judge’s ruling in an antitrust case brought by Epic Games should be thrown out. The ruling — which Google contested — would force the tech giant to make changes to its Google Play app store.
Epic sued Google and Apple in August 2020, alleging that they blocked competition for rival app stores, and a jury decided in December 2023 that Google violated antitrust law by making revenue-sharing agreements with device makers that block rival app stores.
In the United Kingdom, Google said in April 2023 that it wanted to give developers promoting apps on its British Play store more billing choices.
The tech giant proposed allowing developers to use third-party payment processors for in-app transactions after the U.K.’s Competition and Markets Authority (CMA) began a probe of Google’s system in which developers were forced to use the company’s in-house billing system.
It was reported in December that spending across Apple’s App Store and Google Play reached $127.3 billion in 2024, up from $110 billion the previous year.