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allbirds makes public debut

Allbirds Makes Public Debut; Nike Links Loyalty Program With Dick’s Sporting Goods

The shares of Allbirds, the famous shoemaker, have seen a surge of 90%, as the company’s valuation has reached $4.1 billion. Allbirds is popular for its woolen sneakers, as well as, slip-on. Nike and Dick’s Sporting Goods, on the other hand, have decided to collaborate to expand Nike’s footwear and apparel collection. 

Allbirds Make a Debut on NASDAQ

On 3rd November, Allbirds made a debut on Nasdaq, a footwear company that is all set to turn into a public company. They had set the rate of $15 per share for its initial public offering (late Tuesday), which was higher than the expected $12 to $14 per piece they had decided earlier. The company’s debut was successful with over 20.2 million shares sold in the initial public offering, generating approx $300 million from the sales.

They raised the price per share after selling 19.2 million shares of $12-$14 before the public offering. At the end of the day, the prices went up to $28.64 per share. Allbirds has made it to the Nasdaq Exchange. The company’s goal is to draw the attention of the investors willing to work with companies that focus on sustainability and eco-friendly offerings. They have decided to go global to promote sustainability. 

Joey Zwillinger, the co-founder and co-CEO of the company mentioned that the reason why they received a high demand for the shares is the investors’ growing concern about the planet. He believed that Allbirds’ sustainability campaign gave investors a golden opportunity to contribute to the environment. 

Allbirds has 27 land-based stores currently, a number they are expecting to increase by hundreds. Zwillinger added that the company’s motive is to make and sell the best and trending shoes to customers. They are hoping that the financial part will be taken care of by the investors. They have also expanded their product line recently, adding socks and other sustainable accessories (in addition to the woolen sneakers).

Dick’s Sporting Goods and Nike’s Collaboration

Dick’s shares value surged after the company announced a partnership with Nike. This collaboration will give customers access to exclusive products and a seamless shopping experience. Now, customers can buy Nike’s shoes and clothes on Dick’s official website. This partnership will turn into a long-term relationship between the two apparel and footwear stores. They have also hinted at another major advantage of this collaboration. Hopefully, customers can now drop off and pick up their Nike’s online orders at Dick’s store.

Apparently, Nike does not want to continue working with the wholesalers, as the company has decided to sell more footwear to the customers directly. Like Adidas and Under Armor, Nike has also taken this step so it can keep maximum profits, selling its products at a higher price. 

The company also sees it as a way to build a healthy and long-term relationship with its customers and understand their needs. The latest financial reports of Nike show that the wholesale stores accounted for around 61% of the company’s total footwear sales in 2021, down from 65% in 2020. The figures suggest that customers are now buying Nike’s footwear either from the land-based store or Nike’s website, instead of the wholesalers. While it is relying less on wholesalers, Nike is still counting on the retailers for ramping up its sales. 

How Will the Nike’s and Dick’s Partnership Work?

Nike is also Dick’s largest seller accounting for 19% of the sales for Dick Sporting Goods. This partnership will open up many opportunities for Dick’s Sporting Goods as well. They can have a wide selection of footwear, not only the sports shoes but in other categories as well. Dick’s hope to become the customers’ one-stop destination for the latest sports gear and accessories. Dick has opened a new location in Rochester, New York to provide Nike a place to showcase its products. The company is planning to organize the events for the Nike members in its new location along with a sports shop in Tennessee. The CEO said that the company would employ an additional 9,000 workers to cater to the rising demand for sports footwear.

Lauren Hobart, the CEO of Dick, said that the company’s relationship with Nike has been a successful one for years. In fact, they have been working together for more than half a century now. The goals of both companies are to deliver a seamless user experience through their extensive collection of athlete apparel and footwear. Dick’s Sporting Good Inc. reported a 4.1% surge in its shares on Wednesday. Nike’s share also jumped 1.8% higher after this announcement. The companies call it a “connected partnership”, which will not only strengthen the bond between the two athlete companies but make a vast range of athlete products available to the public.

google start requiring 2 factor authentication

Google to Start Requiring 2 Factor Authentication (2FA) on Accounts

Google had announced that it would enroll as many Google users to the two-factor authentication security as possible by the end of this year. They decided to make it a default program.

In October 2021, it stated that the plan was to get more than 150 million users protected by the 2FA, reminding people of Google’s security goals since it is Cybersecurity Awareness Month. Within the next two months, a vast majority of Google users will be automatically enrolled in this new security program. In fact, Android Police has got reports that suggest Google has already started working on its new security campaign and is enrolling people in the two-factor authentication service automatically.

The 2FA system was in place much before Google’s announcement of making it a default setting. Earlier, it was a choice. People were allowed to sign up for 2FA, but it was not compulsory. However, people did not sign up for this system voluntarily. A 2018 report showed that only 10% of Google’s active users had the two-factor authentication system activated on their accounts. Since then Google has been requesting its users to enable the 2FA for the best protection. 

Out of 150 million accounts, Google has deployed the auto-enrolling system for only those accounts with a backup. Only users with a backup email address of a phone number that can be used for recovering a forgotten password will be auto-enrolled in the two-factor authentication. 

The 2FA System: What is it and How Does it Protect Your Google Account?

The two-factor authentication is a safety program that asks users to submit additional information to confirm their identity before they are logged into their Google accounts. The 2FA security model is implemented by many social networking sites and other eCommerce stores to prevent hackers from getting unauthorized access to someone’s Google account.

Users can enter their mobile number where a confirmation for a sign-in attempt is sent. The user has to enter their login details, including password and the confirmation code from their mobile to access their Google account. A USB stick can also be used for 2FA. This means the login data will not be enough to sign in to your Google account anymore.

Details on the Google Support Page 

You can find the details of the auto-enrollment process on the Google support page. The company has mentioned that each user flagged for the two-factor authentication will receive a notification a week before the rule is enforced. The notification will be sent via email. This, however, does not include companies that have purchased Google Workspace account. It is up to the administrator of the organization to decide if they should enable this security system for their Google accounts.

YouTube had also made the two-factor authentication system compulsory for the partner-level content creators recently. The support page also states that Google has currently allowed auto-enrollment for two-factor authentication, but it will become a two-step verification soon, making it mandatory for every user to verify their identity with additional details.

Google has teamed up with many IT companies to launch over 10,000 hardware keys annually. Another security tool that helps Google users remember their passwords is the Password Manager. The tool is designed to verify more than a billion passwords every day. The company has confirmed that this password manager will soon allow people to get passwords for other mobile apps too. It will be easier for people to get passwords for every mobile app from the Google App Menu.

On Android devices, the two-factor authentication system is integrated into the devices using Google Prompt. When you try to sign in to a Google account, a pop-up menu with “yes” or “no” appears on your screen. It saves you the time and hassle of entering the code every time you log into your Google account. The iOS users can use the physical security key or get a prompt request via their Gmail app or Google Smart Lock app.

Why is it Necessary?

More and more online channels are embracing the two-factor authentication protocols to guarantee maximum protection to their users. Google has also taken the initiative to make this search engine a safe place for individuals and businesses. 

Two-factor authentication offers a way to protect your accounts from hacking and phishing attempts. Even if your password is leaked or a hacker finds out your login credentials, you can rest assured that they will never get access to your Google accounts until they use the physical key or the security code sent to your mobile. 

Google had also launched the latest Chrome version earlier, which came with 19 security updates. One of these features was the payment confirmation option. Hopefully, by the end of 2021, we will see millions of Google accounts secured with the 2FA security system.

facebook enables app creators

Facebook Enables App Creators to Pay Outside the Apple’s App Store

The CEO of Facebook, Mark Zuckerberg, declared that content creators can use custom web links, allowing their followers to make payment for the subscription services using Facebook’s native payment model. If someone uses your Facebook’s custom link to sign up for the subscription, instead of Apple’s in-app subscription, you get to keep the money. This new feature will enable creators to give their fans access to restricted content and charge them on a recurring basis for the same, without having to pay a hefty commission fee to Apple. 

The feature is available for users based in 27 countries and is for only those who meet Facebook’s eligibility criteria. The battle between Apple and Facebook is due to the high fees charged to the content creators. Facebook wanted to create a payment ecosystem that would allow content creators to get full profit, paying only a small amount of tax, instead of a high commission fee.

Facebook Pay – The Company’s Native Payment System

The feature was launched to help creators keep a major portion of the money paid (in fact, the whole amount, minus taxes) to themselves. It shirks the 30% of the tax on Apple’s in-app store transaction. It is believed that Facebook is in the gray zone after launching the web custom link, however, the social networking platform believes that it has never done anything that goes against the iOS policy. 

The creators had to pay a high fee to Apple’s app store every time they sold a digital item, an event, a subscription service, or any other online service through Facebook. At the beginning of the COVID pandemic, Facebook announced that it would reduce or eliminate the high commission charges for content creators by 2024. Apple did not accept it, but it did join Facebook for a short while. 

In a latest Facebook post, Mark Zuckerberg clarified that Apple’s high commission fee is too much for any creator, as it is charged every month. The social site is supporting “own the relationship with your subscribers” by launching Facebook Pay.

Apple’s app store does not allow any app that would allow people access to any alternative form of payment for buying items from the app store. In the case of Facebook, it is not the app developer (Facebook) that sends people to make payments on Facebook’s native payment platform, but the content creators that will be directing their fans to make payments on the web. Facebook’s representative mentioned that this announcement has nothing to do with the user’s ability to apply for a creator subscription using Apple’s payment system.

Zuckerberg mentioned the importance of launching new features that allowed content creators to get the best reward for their work. Now that they are moving to the metaverse, it is time to unlock golden opportunities for the content creators to get paid for their hard work, and in full. Earlier, creators had to pay 30% of the revenues they earned as a transaction fee on Apple’s native payment system. They could keep only a small portion of the revenues. So, to make the ecosystem more profitable, the social networking platform has launched this innovative feature.

How Does it Benefit Content Creators?

In addition to the reduction of taxes, content creators are now entitled to receive a bonus of $5 to $20 for every new subscriber that signs up for their services (whether through Apple’s payment system or Facebook’s custom web links). The creators can use earning calculator for a breakdown of the revenues and fees they pay to Apple and Google. Another interesting addition is the ability to save and download subscribers’ email addresses directly from Facebook. 

Social media is clearly taking advantage of Apple’s strict payment policies and privacy rules that do not allow people to communicate outside the app. Even though this restriction was lifted recently (in June), it has not made a big impact on users. People still cannot use an alternative payment method for subscription-based services. The high fees of the App Store have always been a controversy for Apple. You must have heard of the long-term battle between Epic Games and Apple? It has been going on for a year now. The company took Epic Games Fortnite off its platform since it launched its own payment system.

Bottom Line

Facebook has shown its creators how they can save tons of money using its Facebook Pay system. The platform has visualized the revenue summary, giving details of the amount they paid to Apple and Google, and how much they can save with this new Facebook Pay system. With this innovative feature, Facebook is expected to gain more popularity among content creators that are often on the lookout for a payment alternative that could save them the high commission fee.

alibaba debuts nft art metaverse

Alibaba Debuts NFT Art Metaverse for China’s Singles Day

China’s Single Day allows people an opportunity to celebrate their single and happy life with shopping. Celebrated on 11th November, it is a perfect occasion for all the singles looking to buy some exclusive items. The event is back this year with an exciting range of products available for the singles. In 2020, the Chinese eCommerce industry earned $74 billion through the event. Once again, it is expected to generate billions.

According to a report by RADII, Alibaba launched “metaverse” for this year’s Single’s Day event. The report suggests that this feature is rolled out before Single’s Day as this eCommerce giant is trying its best to keep up-to-date with the latest technological advancements. The country is growing rapidly, and Alibaba has participated in this growth by launching Metaverse Art Exhibition, an online platform designed to help people interact on a virtual level. Earlier, Alibaba had shared a couple of pictures of its digital employee named “AYAYI”. People are predicting that it was the company’s step to encourage the new Art Metaverse launch. This digital employee is supposed to take the role of a guide, giving a warm welcome to people participating in the Alibaba Metaverse.

The Alibaba’s Metaverse Art Exhibition

Those visiting Alibaba’s Metaverse Art Exhibition will get a golden opportunity to explore the finest artwork by popular brands, including but not limited to, Alienware and Burberry. Using the last year’s learnings, as well as, the non-fungible trend (NFT) coupled with the live streaming services, the company is all set to break another success record this year. The specialty of the Metaverse app is that it has encrypted assets, which means if someone owns an artwork or something valuable in Metaverse, it is protected with blockchain. 

This is done to ensure protection for the sellers and avoid copyright issues. Although it could prove to be the most positive news for vendors and customers, the concept has attracted skepticism. Facebook has also released a similar kind of feature, called the metaverse. Zhihu, the Chinese question and answer website, has received mixed reviews where some commentators have up-voted this new feature, while the rest of them do not appreciate Metaverse. It is believed that metaverse is expected to create a space where one could buy and sell products in peace while consuming fewer resources. Facebook has been focusing on its Metaverse strategy while rebranding its name to “meta”.

Tmall to be a Part of Metaverse

This art exhibition is going to be launched by Tmall in its official mobile app. As mentioned above, the exhibition will be conducted and run by Ayayi, who will play the human virtual idol. This unique avatar is designed and developed by Ranmai Technology. It might be a digitized bot, but this interesting avatar looks similar to a human. 

Consumers and brands in China have shown great interest in engaging with virtual bots ever since the technology started. Ayayi, despite being new to the industry, has already garnered the attention of more than 114,000 people in no time. Not only consumers but many luxury brands have also shown interest in this digital avatar, with Guerlain being one of those. 

Burberry to Participate in the Single’s Day Exhibition

This exhibition is all about the collection of eight products by many popular brands, one of which is Burberry. Despite being an exhibition of only limited products, the collection is offered at affordable prices so that there is no entry barrier.

Burberry is a pioneer and one of the reputable names in the digital innovation field. So, it goes without saying that it is part of this Single Day’s exhibition. Earlier, the company collaborated with Mythical Games to launch a Sharky B avatar dressed in the company’s monogram print. The surprising part is the brand had put 750 units of the characters for sale. The collection was sold out within 30 seconds. 

For this art exhibition, Burberry is all set to introduce the deer mascot that will be flaunting the Burberry scarf. In the Single’s Day exhibition, the company will launch a thousand pieces of deer NFT. The limited-edition scarf is priced at $454. This exclusive piece of artwork can be used as wallpaper and emoji. Most importantly, the customers will be entitled to get the scarf physically.

Bottom Line

The Metaverse Art Exhibition is all set to bring many limited-edition products for customers. People can’t wait to be part of this China’s biggest exhibition and explore a vast range of products from luxury brands. The virtual bot will welcome each visitor and guide them through the exhibition, which is going to be an exciting experience for all customers.

mastercard steps ahead in b2b payments

Mastercard Steps Ahead in B2B Payments with New Supply Chain Finance Offering

Mastercard announced a collaboration with the UK-based finance solution provider “Demica” on its website on 21st October. The company is all set to expand and improve its Track Business Payment Services that started in 2020. Mastercard is working on its Track Business Payment Service to make working capital easily accessible with lower operational costs. It is also expected to reduce any complexities and unnecessary risks while promoting automation.

The company has launched this new financial service with Demica. This leading debit/credit card company aims to encourage its business partners to make working capital accessible and affordable to their customers. Due to the inadequate scalable solutions, supply chain financing has become inaccessible to many startups and small-scale companies. These financial solutions are affordable for businesses operating globally or on a large scale. Mastercard’s announcement has opened up a golden opportunity for small businesses and large corporations (operating globally) to manage their cash flow and meet the working capital requirements.

This collaboration with Demica means a flexible and affordable financial platform is now available for B2B companies. In addition, customers and payment networks are expected to reap the rewards of this new project. They can enjoy the benefits of supplier onboarding, advanced advisory services, and a smooth deployment procedure. Demica said they were excited about working with Mastercard to transform the payment network for retailers, payment service providers, and customers. 

A Brief on Mastercard and Demica

Mastercard is a popular name in the payment industry, offering digital payment services to customers and retailers. The company’s goal is to facilitate safe, fast, and smooth transactions so that people can enjoy a seamless shopping experience. It is not the first time the company is introducing an innovative payment network. They are known to launch such financial programs now and then to provide customers with innovative financial services. Operating in more than 210 countries, Mastercard aims to make the payment system a sustainable solution for businesses and customers.

Demica is one of the largest fintech companies known for providing the latest financial solutions to businesses. The company has cloud-based programs designed to automate the working capital of a financial institution and other corporations. They have programs worth $18 billion running on their network. These programs are funded by prominent investors and institutions. They make it possible for businesses to improve their supply chains. 

Demica’s Take on the Partnership

The CEO of Demica, Matt Wreford, said that this collaboration means the partnership of a company with a robust infrastructure and a leading financial solution provider. This partnership can bring one of the most significant transformations in the B2B payment industry globally. The CEO mentioned that their financial solutions could automate bill receivables and bill payables. Demica wants all types and sizes of companies – whether large investors or a multi-national corporation – to enjoy these benefits. 

The Track Business Payment Service that comes packed with the working capital functionality is the best innovation in the financial industry. The goal is to ensure that every business has the required working capital to survive the competitive business environment. It will also strengthen the supplier and customer relationship by automating the payable and receivable. For suppliers, this program brings a range of perks that give them the best selling experience. It includes standard agreements, one-time registration, and early payments.

The New Partnership with Demica will Resolve Customers’ Pain Points Say Mastercard’s CPO

The Chief Product Officer, Craig Vosburg, said that the main objective of the Track Business Payment service is to improve the working capital facilities for businesses. The conventional cash flow network has proven to be a major obstacle in the growth of B2B companies. Not only is the current system complex, but it raised the operating costs and made it challenging for companies to streamline their working capital. 

Mastercard’s executives said that this partnership with Demica will help them resolve customers’ and business’ pain points by allowing them to use the working capital in the most efficient way possible. The company has started integrating the Track Business Payment Service with Provenance Solution to enhance financial traceability for suppliers and buyers. 

This integration will allow payment networks to collect data needed for facilitating early payments, low transaction risks, and a low reconciliation cost. Mastercard is also expecting to expand this new feature globally in 2022, as it keeps adding more partners to facilitate global trade. The service has already gone live in certain regions of the US, and almost all sizes of businesses have started leveraging this financial solution to regulate their working capital.

The new supply chain offering has become an integral component of cash flow management across industries. People are excited to see where this partnership goes and what it has in store for retailers.

homelight expands real estate financial products 1

HomeLight Expands Its Real Estate Financial Products in Arizona [2023 Update]

HomeLight, a real estate technology platform that transforms the home-buying and selling process for top agents and clients, announced that it would expand its flagship financial products, HomeLight Trade-In and HomeLight Cash-Off, to more agents, homebuyers, and sellers in Arizona.

This expansion has followed 700% product growth since January 2020. It is supported by a $363 million Series A funding round in September 2021.

These products were extensively used in a historically competitive year. According to transactions that were closed between December 2019 and now, HomeLight Trade-In(tm), homes sold for 5% more than their valuations, closed 5x faster, helped clients save 3.5%, and allowed them to purchase a home for less than the traditional way of listing on the market. In addition, buyers have been able to save up to 4.4% on offers powered by the HomeLight Cash Deal compared to loans.

Locations of HomeLight’s Headquarters and Offices

HomeLight’s headquarters are located in Scottsdale, AZ, at the SkySong Center, a high-growth area for technology-based businesses within the ASU Scottsdale Innovation Center. The company’s headquarters was previously located in San Francisco, CA. This was where it was founded in 2012.

HomeLight’s headquarters in Scottsdale is its largest office. It serves as the operational hub for customer service, sales, and title and escrow. HomeLight intends to hire 300 people in the area over the next six to twelve months.

Governor Doug Ducey stated that HomeLight’s move from San Francisco to Scottsdale was a proud moment. He said, “This has made Scottsdale the largest office of the company. The rapid growth of HomeLight demonstrates Arizona’s top environment for innovation and technology. We are pleased with this expansion and the additional 300 jobs that it represents. We look forward to continuing to support HomeLight’s growth in the future.”

David D. Ortega, Scottsdale Mayor, said that HomeLight deserves congratulations for its continued success. He said, “Scottsdale has established itself as the ideal location for HomeLight to grow and innovate in the real estate market. I’m always thrilled when smart companies take advantage of the great foundation that Scottsdale’s booming tech sector provides.”

Drew Uher, HomeLight’s CEO and Founder, stated, “In a real estate marketplace that is more competitive than ever before, top agents, homebuyers, and sellers are looking to innovative tools and services such as HomeLight Trade-In and Cash Offer to help their transact with speed and certainty.

We couldn’t be happier to grow our roots in Arizona and tap into the skilled workforce of the greater Scottsdale region. Our goal is to partner with the top Arizona agents to provide exceptional service for clients throughout the transaction process.”

The HomeLight Cash offer, made by top agents to their clients, allows them to make an all-cash offer on their next house. HomeLight Home Loans verifies clients’ income and assets in order to determine their purchasing power.

Once the agent and client have found a home, HomeLight makes an offer for all cash and holds the property until financing is secured. Then, HomeLight will sell the client’s home at the buyer’s price plus a small fee once the loan is closed.

The HomeLight Trade-In, which solves an important problem for homeowners and agents, allows them to sell and buy at the same time while still capturing their full market value. HomeLight buys the property for approximately 90% of its expected value.

This frees up equity to be used when it is needed before listing the house. HomeLight then places the property on the market and works with the agent to sell it. The company pays the client a small fee if the home sells at more than HomeLight’s purchase cost.

Martin Sears, a Phoenix-area agent in the HomeLight network and the owner of West USA Realty Estrella Branch, stated that “as more people flock to the Copper State,” and added, “I’m excited to offer HomeLight cash offer and HomeLight trade-in to help my clients compete in today’s market by offering them opportunities to make contingency free offers.” “With HomeLight’s technology, we believe we can put more Arizonans on a path to the American dream of homeownership.

HomeLight’s growth and relocation come after last month’s $363million fundraising spherical. This raised the corporate’s value to $1.6billion, according to PYMNTS. The new spherical was allocated to increase HomeLight’s Money Supply and HomeLight Commerce In. It also allowed HomeLight to hire additional staff and create new workplaces in the U.S. The corporate has raised approximately $530 million.

Drew Uher, HomeLight’s founder, and CEO spoke to Karen Webster of PYMNTS. He stated that he founded the company with the goal of providing “the contingency free actual property transaction of long term.” The Money Supply product allows buyers in need of a mortgage to create a money supply for a property. This makes them more aggressive and increases their chances of securing the purchase.

HomeLight Commerce In frees the customer from the entire itemizing process. This is in accordance with the announcement. HomeLight purchases the dwelling of the customer – usually for 90% of its expected worth – then lists and sells it with the agent.

HomeLight – The Fastest Growing Real Estate Tech Firm

HomeLight is today building the future in real estate. Our vision is for a world in which every real estate transaction can be simple, straightforward, and satisfying.

HomeLight’s platform is trusted by the best real estate agents. It allows them to provide better results for homebuyers and home sellers at every stage of the real estate process.

This includes enabling all-cash offers, unlocking liquidity to purchase a new home, and ensuring certainty through modern closings. As a result, HomeLight’s platform facilitates thousands of agents’ billions in residential real estate transactions each year.

HomeLight was founded in 2012 and had offices in Scottsdale and San Francisco. It also has New York, Tampa, and Tampa offices. HomeLight has received backing from prominent investors such as Zeev Ventures and Menlo Ventures.

snap shares plunge

After Apple Privacy Changes Hit Ads Business Snap Shares Plunge 25%

Snapchat shares plummeted 25% after Apple declared a few critical privacy changes in Apple’s App Store. The owner of Snapchat mentioned that its shares witnessed a decline since Apple’s new privacy policy has affected Snap’s digital advertising. These changes were introduced on Apple’s App stores causing a significant disturbance in the ad management. Not only Snapchat but many companies have been facing issues in managing their digital ad campaigns after this announcement. The share price of Snapchat dropped to $57 from $75, as a result. The company experienced a loss of $72 million in the third quarter.

Snap reported that they had predicted some form of disruption in their regular operations after Apple’s policy changes, but they were not expecting this. It has become harder for Snap’s ad partners to measure and manage their ad campaigns for iOS users.

Currently, they are focusing on launching some first-party ad tracking tools to help their partners measure the ad performances. The goal is to find a way out of this chaos. Analysts had expected Snap’s revenue to be around $1.36 by the end of this year. Now, they are predicting their revenues to be between $1.17 and $1.21 billion by December 31.

Snapchat is a California-based social networking app that has been gaining a lot of attention from the youth. The company reported steady growth ever since it started. They have been launching a new and exciting range of features that give a personalized experience to their users. For example, they recently launched My Places which offers personalized recommendations to people regarding where to eat, which restaurants are the best, where they should travel, and more. The company mentioned that it earns a major portion of its revenues from selling digital ads on the platform. Apple’s announcement, however, has led to labor shortages and disruptions in the supply chain.

Top Social Media Marketing Trends For Businesses To Watch In The Fall Of 2023

With Snapchat, Facebook’s shares declined by 6% while Twitter’s shares dropped by 7%. The news has not only impacted Snap but all social networking channels and digital ad publishing platforms. This new privacy policy rolled out in June, has restricted digital advertisers and brands from tracking iOS users without their permission. Apple launched a new ad campaign measurement tool, which made it impossible for the brands to track iPhone users and the performance of their ads.

Snap further mentioned that they are expecting this disruption to linger through the last months – the most profitable period for social media since brands increase their marketing efforts for the holiday. Snap has suppliers that publish ads in the fashion, beauty, and consumer-good niches. The revenue of Snapchat in the third quarter was $1.07 billion, less than the estimated $1.1 billion. Snap reported a growth in its daily active user metrics by 23%, higher than the estimates. The daily active users are expected to grow to 318 million in the fourth quarter. 

The CEO Evan Speigel said that the company would focus more on its augmented reality services to improve users’ shopping experiences. They are expected to launch advanced augmented reality tools that allow buyers to try on clothing, beauty products, and other fashion items before they make a purchase. Spiegel believes that augmented reality is “one of the most exciting long-term opportunities” as millions of people are already trying it.

scammers stole from amazon customers

Scammers Stole $27M From Amazon Customers [2023 Update]

Once again Amazon topped the top three list of eCommerce businesses, but this time, the company is not going to brag about it. Amazon was on the list of the top three impersonated businesses between July 2020 and July 2021, according to the Federal Trade Commission. The reports suggest that every 1 in 3 users filed a complaint against the scammers pretending to be Amazon

In this one year, the number of reports against giant retailers increased fivefold. Approx 6000 people said that they lost money to scammers with an average loss of $1000, while 96,000 people filed a report against Amazon impersonators. Apple ranks second on this list. Victims have reported that the scammer presents a scheme where they guarantee iPads and other gifts to the user. The users end up giving these scammers access to their iCloud accounts in the hope of winning an iPad.

Common Tricks Used by Amazon Scammers

Impersonators use different methods to trick the victim into sending their details or giving these scammers access to their devices. For instance, they might send an email suggesting an unauthorized transaction from the victim’s account. They scare the user and ask them to send their bank account or credit card details so that they check and fix the issue. 

Common Tricks Used by Amazon Scammers

Scammers pretend to refund more than the required money and ask the user to send the remaining funds back. They pretend to be the executives from Amazon asking the customer to return the extra refund amount or their Amazon account will be terminated. That’s how they charge them extra. Some hackers use this trick to track customers’ credit card and bank details.

Another popular trick is asking the user to share the number on the back of their gift cards. They tell the user that it’s the blocking code, which will be used to block hackers. They collect these numbers and redeem the amount. The scammer might also say that you’ve won prize money or a gift item from an Amazon giveaway. To claim that, you need to enter your credit card details. Such giveaways never occur and even if they do, nobody asks you to share your financial details to claim the prize. Victims have said that it was the scammer who initiated the fraud and stole from them. While it may be true for most cases, some people get into this trap due to their carelessness. They find fake Amazon customer service numbers online for assistance and end up revealing their personal and confidential data to scammers.

Who is at Higher Risk of Fraud?

The Federal Trade Commission showed that older people were more likely to fall prey to Amazon scammers and they were also at a higher risk of losing twice as much money as young people. The FTC mentioned that people lost up to $27 million to Amazon frauds in a year. The news may come as a surprise to online buyers, but a report by GoBankingRates suggests that purchase frauds are the second most common type of fraud after employment scams. 

As mentioned above, there are many ways a scammer can trap the user. However, the most common method is sending fake alerts for an unauthorized transaction from your account and pretending to be an Amazon customer representative who can fix the issue. Here are a few ways you can avoid such scams and ensure safe online shopping.

Tips for Avoiding Amazon Scams

A hand holds a magnifying glass over the location bar of a browser, revealing the URL is a “scam”.

Avoid clicking on any URLs that appear fake or that you don’t recognize. Likewise, do not call any unknown number or send a text to any random person claiming to be Amazon’s representative. These messages are sent to your email addresses mostly. You should never search for Amazon customer care numbers online. There are plenty of fake numbers that redirect your call to a scammer who tricks you into revealing your personal details.

If you get any offer from Amazon, do not take any action instantly. Take some time to research the offer or get in touch with Amazon’s representative to double-check the offer’s authenticity. This is the most common way to scam a user. Never trust the phone numbers and other contact details you see in the email. Most importantly, do not give strangers access to your iCloud accounts and mobiles no matter how authentic they look. Amazon never asks you to give them access to your mobile and personal details. 

According to the ACI reports, fraud in the online purchase industry increased by 6% in the first quarter of 2021. While Amazon is one of the safest retail stores, people need to be more careful when using this eCommerce shopping site (especially if you receive messages from unknown numbers and emails that pretend to be an authorized Amazon executive). These are mostly scammers trying to steal from you.

walmart first installation of bitcoin atms

Walmart Rolls Out First Installation of Bitcoin ATMs [2023 Update]

The cryptocurrency world has welcomed many popular retailers in the past few decades, and Walmart has now joined these companies. This giant retailer aims to make cryptocurrency more prevalent and easily available to the public.

Collaboration with Coinme and Coinstar

One of the leading retailers in America, Walmart has announced a collaboration with Coinme – a crypto exchange company and Coinstar (a coin cashing machine) to launch 200 bitcoin ATMs in the United States. Even though they have introduced only 200 ATMs for now, a report by Bloomberg suggests that the company has a broader plan of introducing more than 8,000 bitcoin ATMs across the US in the coming years. However, there are no details about the deadline for this project yet. 

Currently, the US has over 25,000 bitcoin ATMs located in different states. These ATMs are found at supermarkets, gas stations, and other retail stores. Coinstar manages 4,400 kiosks located in more than 33 states in America.

With this new project announcement, customers can buy Bitcoins at the Walmart stores in America. A CoinDesk editor confirmed that these ATMs work fine after recently buying Bitcoins from a Walmart store in Pennsylvania. 

Coinme and Coinstar collaborated for one of the biggest cryptocurrency projects that would allow people to buy Bitcoin for cash. Walmart has also become part of this project by introducing 200 Coinstar kiosks at its stores across the US.

Bitcoin ATMs and the Transaction Fees

SAM Doctor, the head of the research department of BitOoda, said that Bitcoin ATM is not new. They are available at supermarkets and gas stations. Walmart has made this technology more accessible to people with their new pilot program. Now, customers can exchange their fiat currency for Bitcoin. They have to insert the banknote in the ATM and get the paper voucher containing a code for redemption. They can redeem their Bitcoins by registering an account with Coinme. Complete the registration by filling the KYC form on Coinme and you can redeem your voucher for Bitcoins.

Note that currently, there is no feature that could allow people to withdraw Bitcoin from their bank accounts. There is no indication of such a feature launching in the future either. The Bitcoin ATM comes with a fee of 11%, of which 7% is the cash exchange fee. If compared with Binance and Coinbase, the Bitcoin ATMs are relatively expensive. 

The Compliance Concerns

Although the Bitcoin ATMs are highly likely to have a high adoption rate, the service has a few compliance concerns. Money laundering is one of the most common risks associated with Bitcoin ATMs, according to Seth Sattler, DigitalMint’s compliance director. These risks occur because the crypto ATM operators do not consider the risks of illicit activities that these machines are vulnerable to. 

Users Response

Despite these compliance risks, the users welcomed this news with positivity. Lark Davis even went on to tweet, “Wal Mart selling #bitcoin now… cool!”. However, some users complained about the high fee structure. One of the users tweeted that the price of Bitcoin is always high when they are buying the coins and low when selling them. Most social media users appreciated Walmart’s decision to accept Bitcoin as an alternative payment method. A user tweeted that Facebook and other popular companies will soon accept Bitcoin as a legal form of payment. 

Plus, the ATMs charge an incredibly high fee. Fortunately, buyers appreciate this idea since it will be easier to get a Bitcoin voucher for cash. It isn’t the first time the company has been participating in the crypto world. Earlier, they had announced that they were looking for a crypto product lead to improve their digital currency strategy. 

Though the job is no longer listed on Walmart’s official website, you can still check its ad on LinkedIn. For now, the fee is the major concern of customers as 11% on each transaction is a bit too much for an average customer. The 4% of this fee is for the Bitcoin option. It looks a little higher than the average fees charged by other cryptocurrency platforms, such as Binance, which also allows users to deposit money from their bank account to the Finance account directly without any extra charges.

In addition to the United States, the popularity of Bitcoin ATMs is growing rapidly in other parts of the world. More and more retailers embrace these digital currency ATMs to offer a premium transaction experience to their customers. Take El Salvador, for example. The Bitcoin ATMs in this area enable people to convert their plastic money into Bitcoin or crypto tokens. As a result, El Salvador has become the first country in the world to consider Bitcoin as a tender.

peer to peer payments

Important News and Trends in Peer-to-Peer Payments

Today, several customers and businesses have started embracing peer-to-peer payment technologies. The popularity of P2P payments has been on the rise since the year of the pandemic. As the pandemic has disrupted different services, it has encouraged customers to find digital solutions for transactions. The value of P2P payments is increasing, as many businesses have started resuming their normal operations. Using P2P platforms, customers can find it easy to make payments from their smartphones.

The latest trends of using P2P payment platforms

One of the major advantages is that P2P ensures better control of the in-person fund transfer process. It is also a great option when you have time sensitive transactions. P2P platforms are accessible anytime and from any place. The technology ensures minimal friction with the digital transaction process. More than 30% of Americans have started using at least one peer-to-peer payment platform. P2P should gain universal acceptance within a few years.

According to the latest survey, 70% of adults signed up with P2P platforms at the end of 2020. It indicates faster adoption of P2P technology. It also enables us to predict long-term trends in the digital transaction market.

A study from Mercator Advisory Group revealed that there was a slight decline in the frequency of P2P transactions in 2020. However, the number of platforms is increasing..  

Credit Unions have found it easy to provide P2P services to their members. There is a rise in the number of co-branded P2P networks and non-bank apps. Credit Union leadership is trying to increase digital engagement. It likes to know how the use of P2P will benefit them. Signing up with a P2P network helps in promoting security around transactions. The credentials of the member will be linked with the institutional security already used by credit union.

P2P and security standards

Unfortunately, P2P has become one of the new targets of cybercriminals. In the past year, there has been an increase in cases of P2P account fraud. However, the rate of other identity fraud has decreased by 21%. Thus, security should be the major concern for P2P users. Interestingly, the increasing usage of RFID, NFC, and other similar technologies in P2P payments will present several opportunities in the future.

P2P is useful for something more than check-splitting. You may notice the recent trend of using P2P for small payments. However, the CEO of Zelle’s parent company found that the average amount of Zelle transactions is about $250. 

With the growth of P2P platforms, businesses will choose peer-to-peer platforms for both receiving and sending money. 

From these trends, it can be said that P2P will be acceptable to businesses for payment disbursements. They will also use it for settling issues with other organizations. It will enable businesses to settle obligations within a very short time. There will be a minimal risk of verification delays, which are common in ACH transactions.

Mobile P2P apps and their growing transactions

The mobile P2P sector has been gaining popularity in recent years. The key players in the market have seen considerable growth and an increase in the payment transaction value. They have attracted more users in the past few years.

At present, Cash App, Zelle, and Venmo are enjoying unparalleled growth, especially during the pandemic. These companies have continued innovating their platforms to attract new users and retain loyal ones. To have a clear understanding of how these mobile P2P apps are transforming the industry, you can check out some statistical data.

  1. Cash App

Almost 30% of US-based users of P2P mobile payment platforms have chosen Cash App. In the last months of 2020, the estimated balance of Cash App was around $2 billion. The company has gained a big share of its revenues from Bitcoin transactions.

It indicates that the P2P platform is following the trend of shifting towards cryptocurrency. Especially, the instant deposit cash card is highly advantageous, as it helps in using the funds in-store. It covers a bigger part of the profits of the company.

According to the latest predictions, by 2022, there will be a transaction of $128 billion via Cash App. By 2025, the number will cross the $200 billion.

  1. Zelle

Zelle is steadily growing its user base, and within a few years, it will reach 48.2 million in the US. To say clearly, it is about 18.5% of the US population. This growth rate will continue for a number of years. By 2025, Zelle’s service will be available to more than 60 million users.

In the present P2P market, Zelle has gained a strong position. 7 large US banks, including Wells Fargo, Bank of America, and JPMorgan Chase, have partnered with Zelle. The network of partners is growing, as the company will tie-up with several other banks.

In the past year, Zelle added more than 450 financial institutions to make its network bigger. The network also comprises several credit unions and small banks.

Consumers prefer Zelle to pay bills and make bigger transactions. Several small businesses rely on Zelle for bill payments and contractors’ payments. Some businesses also like to use the invoicing feature of the product.

According to a rough estimation, Zelle transacted $272 billion via a mobile app. By 2022, it will get doubled and cross $500.82 billion.

  1. Venmo

Venmo has gained recognition for easier and safer social payments. Its target audience is mainly millennials, and it focuses more on peer-to-merchant transactions. In the US, the number of Venmo users will be more than 77.8 million. The user base is growing consistently, and it will be 100 million by 2024. Venmo has a chance of grabbing a significant share of the P2P market. Overall, we can say that the transaction amount of these popular mobile P2P apps will cross $1.152 trillion in the future. Modern P2P payments are on track to replace traditional funds transfers.