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We estimate that China accounts for 50% of global ecommerce sales, while the US, Amazon’s biggest market, makes up about 18%, and Latin America, less than 3%. Alibaba’s share of its key market is also the highest, capturing 42.7% of ecommerce sales within China last year. Amazon made up 38.2% of US ecommerce sales. But Mercado Libre’s share was far lower, at 20.9% of Latin America’s ecommerce sales.

And don’t be surprised if central banks in other countries in Latin America and Southeast Asia try to replicate Pix and UPI. This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily. Are you a client? Click here to subscribe.

Visa may buy paytech Pismo, and Fiserv is exploring acquisitions. Other incumbents can take advantage of the weak funding climate.

The retailer’s emphasis on chasing trends allows it to both stay relevant with shoppers and minimize excess inventory. Just 5% to 6% of Abercrombie’s US inventory comes from China, with negligible imports from Mexico and none from Canada, limiting the direct impact of tariffs.

Social media, ecommerce, and search remain the only routes to elite status in digital ad publishing. ByteDance, Microsoft, and Tencent crossed the $10 billion threshold already, and Kuaishou, Apple, JD.com, and Baidu will join the ranks over the next year or two.