Today In Payments Around The World: Meituan Revenues Surge 28.8 Pct; Amazon Merchants Cash In With $4.8 Billion Global Holiday Sales

In today’s top payments news around the world, total revenues for China-based Meituan increased in Q3 by 28.8 percent year over year, and Amazon merchants rang up over $4.8 billion in global sales from Black Friday up to Cyber Monday. Plus, former Google CEO Eric Schmidt is reportedly among the backers in a new European early-stage venture capital fund.

Meituan Revenues Up Nearly 30 Pct YOY In Q3

Overall revenues for Meituan rose in Q3 by 28.8 percent year over year to $5.4 billion. That included a large boost from the food delivery part of the operation, which experienced a 32.8 percent revenue jump in contrast to 2019. As in much of the globe amid COVID-19, the rise was because of increased dependence on delivery apps instead of going out in person.

Amazon Sellers Cash In With $4.8 Billion Holiday Sales Worldwide

Amazon merchants rang up more than $4.8 billion in worldwide sales from Black Friday up to Cyber Monday, a 60 percent rise over last year’s sales for the same timeframe. Amazon said in a statement that over 71,000 independent small and medium-sized businesses throughout the world have exceeded $100,000 in sales this holiday season to date.

Google’s Former CEO Schmidt Invests In New $111 Million EU Tech Fund

Eric Schmidt, the former chief executive of Google, is reportedly among the investors in a new $111 million European early-stage venture capital fund. Schmidt, whose net worth is $20 billion per the Bloomberg Billionaire Index, is said to have put an undisclosed amount into the fund. RIT Capital Partners is the new fund’s main investor.

Iliad’s Niel Teams Up To Launch Organic Foods SPAC In France

Iliad SA Founder Xavier Niel is working with other backers to raise as much as 300 million euros or $360 million to roll out a blank-check company aimed at buying assets geared toward sustainable and eco-friendly consumer products. The new SPAC, which is called 2MX Organic, is looking for a valuation of as much as 2 billion euros.