In immediately’s information, Determine arrange a SPAC to lift $250 million, and Affirm reported strong development in 2020 in its first earnings name. Plus, BNY Mellon launched a digital asset platform, the primary world monetary establishment to take action.
Blockchain mortgage lender Determine is launching a particular goal acquisition firm (SPAC), referred to as Determine Acquisition Corp, in an effort to lift $250 million. Determine makes use of its personal blockchain referred to as Provenance to partially automate the issuance of mortgages and loans.
Purchase now, pay later (BNPL) platform Affirm held its first earnings name as a public firm Thursday (Feb. 11), presenting strong metrics for 2020 and a case for its continued development in 2021. However the tempo of that development was referred to as into query as the corporate anticipated third-quarter gross merchandise quantity (GMV) to say no.
BNY Mellon introduced plans to launch an built-in service for digital belongings, advancing the expansion of bitcoin, cryptocurrency and different digital belongings. The nation’s oldest financial institution is the primary world monetary establishment to announce such plans.
U.S. Treasury Secretary Janet Yellen has sounded the alarm on fraud (cash laundering and terrorist financing) finished by way of digital means, particularly with cryptocurrencies. Monetary innovation might help carry the battle proper to the digital entrance — and higher ID verification is usually a potent weapon.
Shortage sells. So much. Almost half of customers who’ve participated in product drops, flash gross sales and/or unique gross sales wish to do it once more. In a brand new research Product Drops: Retail’s New Conversion Play, PYMNTS requested 2,298 U.S. customers how they have interaction with these one-time, unique gross sales occasions and found what retailers should to do seize their curiosity and their spend.
Loyalty and rewards packages may flip 1 in 5 occasional restaurant prospects into common patrons. The issue: 53 % of occasional diners don’t use these packages as a result of they don’t assume they’re obtainable. In Delivering On Restaurant Rewards, PYMNTS surveyed 2,079 U.S. customers to find out how eating places can leverage loyalty packages to spice up restaurant order frequency and spend.
Approaching the one-year mark of the COVID-19 lockdown, retailers are reevaluating their enterprise fashions and priorities. This week, supermarkets are increasing, adopting new applied sciences and considering main modifications.