Weekender: Visa brand change, optimism in the event of a pandemic
In this week’s news, we saw Apple Pay Later emerging as a threat to card issuers. And the rebranding of Visa is to become a global acceptance network. The Weekender is here to catch up with you.
Apple Pay Later could pose a bigger threat to card issuers than BNPL players
The pure “Pay Later” actions were criticized last week on news that Apple Pay and Goldman, who have partnered on the Apple Card, are starting again to create a BNPL product. Based on what has been attributed to “anonymous sources”, however, the real target may not, in fact, be BNPL’s pure competitors, but rather the card issuers whose relationships with Apple – and Apple Pay – have been a bit strained from the start.
Visa Rebrand redefines what it means to be a global acceptance network
Visa would like to change its perception as just a way to pay, said Global Marketing Director Lynne Biggar to PYMNTS CEO Karen Webster and made it the cornerstone of its new branding and campaign ” Meet Visa â, which launched this week. What they need to know is that Visa is also a powerful tool for getting paid and for ensuring that money can flow smoothly and securely and for any pair of senders and recipients. , whatever the context.
As sales skyrocket, Coca-Cola warns of over-optimism
Distance selling may be on the rebound, but Coca-Cola doesn’t believe the effects of the pandemic are behind us. Repeatedly emphasizing the “asynchronous” nature of this recovery nationally and internationally – less than half of the US population is fully vaccinated, as are only 13.2% of the world’s population – business executives cautioned against viewing this moment as a return to normal.
Tesla’s latest push and the changing future of car subscriptions
It looks like Tesla’s long-awaited self-driving car pack is ready. Since the last update of the Tesla app, consumers have the option to purchase the company’s Full Self-Driving package, which adds several features for self-driving cars, including autopilot navigation and parking. automatic, as well as a fully autonomous computer. and traffic light and stop control. The monthly cost of the upgrade will be $ 199 per month for new drivers and $ 99 per month for those who previously purchased the now discontinued Enhanced Autopilot package.
Revolut’s $ 33 billion valuation reflects promise of an open bank
As reported last week, Revolut, the banking-focused FinTech, raised $ 800 million in a funding round led by investors including SoftBank and Tiger Global. With this capital increase, the company is valued at $ 33 billion. The latest figure is a marked increase from the $ 5.5 billion the company was valued at just a year ago.
Trackers and reports
New data: ‘Generation SuperConnected’ wants FIs and traders to drop password
New research from PYMNTS shows that today’s urban consumers are more than digital channel enthusiasts – they are âsuper-connectedâ centers of multi-channel digital activity that are well aware of the vulnerability of their data. Superconnected consumers bank, work and relax using multiple devices to take the friction out of routine tasks and save time. PYMNTS research found that many of these consumers fear that by sharing Personally Identifiable Information (PII) that allows merchants and marketers to tailor their offerings, they also provide opportunities for criminals to compromise their accounts. and steal their information.
NEW PYMNTS DATA: 60% of Cryptocurrency Users Want Merchants to Offer Payment Discounts and Rewards
PYMNTS research reveals that two-thirds of users who held cryptocurrencies bought them to transact, and 53% bought them because of FOMO, up from 32% from previous levels. When it comes to purchases, 93% of cryptocurrency users would consider using crypto in the future, and even 59% of those who have never held cryptocurrency are interested in doing so.
Dapper Boi considers BNPL a ‘one-size-fits-all’ solution for unique styles and customer needs
According to Charisse Pasche, co-founder of gender-neutral clothing brand Dapper Boi, more and more customers are turning to buy now, pay later (BNPL) to buy the cuts they want without going over budget. In this month’s report, Pasche explains how BNPL’s solutions fit into the company’s approach to inclusiveness.
Fun, cool and otherwise interesting
FinTechs Bank wants to reinvent business banking services
Business banking is being redesigned by FinTechs in an interconnected way – a way that conceptually creates a one-stop shop for businesses to accept payments, interact with supply chains and leverage working capital to finance growth.
Nowhere is this more evident than Square’s announcement of the launch of Square Banking. The offering combines a range of accounts and payment terms to help small businesses manage their cash flow by combining checking accounts, savings accounts, cards and loan options.
Crocs’ old demand problem has become its new supply problem
Crocs saw revenue nearly double year-over-year to $ 640.8 million in the second quarter, exceeding both internal and Wall Street expectations as direct-to-consumer sales ( D2C) and digital are gaining momentum amid reopening of outlets and increased demand.
Earlier this year, the Colorado-based casual shoe company predicted second-quarter revenue growth of 60-70%; in fact, the turnover increased by 93% compared to 2020 and by 79% compared to 2019.
For Visa, APIs – and acquisitions – Target the pain points of cross-border payments
On Thursday, July 22, Visa said it had spent Â£ 700 million (around US $ 963 million) to buy cross-border payments company B2B Currencycloud. Visa, which had previously established a strategic partnership with the company, now fully integrates the APIs and the Currenclycloud platform.
Currencycloud offers real-time FX notification and access to multi-currency wallets, as well as virtual accounts. As noted, Currencycloud has relationships with approximately 500 banking and technology customers in 180 countries.
Uber Eats devours ridesharing as company doubles errands
Uber announced Monday, July 19, that it was increasing its grocery delivery capabilities, with the service now available in 400 cities and towns across the United States. This expansion increases Uber Eats’ grocery delivery presence more than double, made possible by a partnership with large grocery chain Albertsons Companies which adds 1,200 grocery stores to the platform.
NEW PYMNTS DATA: SUPERCONNECTED GENERATION – THE UPCOMING USER AUTHENTICATION CHANGE
About the study: Superconnected consumers use a variety of connected devices to interact, buy, and pay online, but say password authentication is slowing them down. PYMNTS surveyed 2,127 consumers and found that these highly connected and highly desirable customers want financial institutions (FIs) and merchants to ditch the password and provide a better and safer way to authenticate online.