Today in payments: a figure configures a firm with a blank check to promote blockchain lending; Confirm requests from 4.5 million users
In today’s news, Figure created SPAC to raise $ 250 million, and Affirm reported solid growth in 2020 in its first P&L. In addition, BNY Mellon launched a digital asset platform, becoming the first global financial institution to do so.
The drawing sets up a firm with a blank check to promote blockchain lending
Blockchain mortgage lender Figure is launching a Special Acquisition Company (SPAC) called Figure Acquisition Corp to raise $ 250 million. Figure uses its own blockchain called Provenance to partially automate the issuance of mortgages and loans.
Confirmed calls to 4.5 million users, striving to increase daily payments
Buy Now Pay Later (BNPL) Platform On Thursday (Feb 11), Affirm posted its first P&L as a public company, presenting robust numbers for 2020 and arguments for continued growth in 2021. But the pace of that growth was questionable as the company expected gross sales (GMV) to decline in the third quarter.
BNY Mellon Launches Bitcoin Digital Asset Platform
BNY Mellon announced plans to launch an integrated service for digital assets, driving the growth of Bitcoin, cryptocurrency and other digital assets. The country’s oldest bank became the first global financial institution to announce such plans.
Yellen Sounds Alarm Over Crypto Fraud
US Treasury Secretary Janet Yellen has sounded the alarm over fraud (money laundering and terrorist financing) carried out using digital means, especially with cryptocurrencies. Financial innovation can help propel the battle straight to the digital front, and better identity verification can be a powerful weapon.
NEW DATA: How Product Drops and Exclusive Sales Increase Retail Revenue
Scarcity sells. Many. Almost half of consumers who have participated in merchandise sales, flash sales and / or exclusive sales want to do it again. In a new study on Product Drops: Retail’s New Conversion Play, PYMNTS asked 2,298 US consumers how they participate in these one-time exclusive sales events and figured out what sellers should do to get their attention and spend.
NEW DATA: Loyalty programs are turning casual customers into restaurant aficionados
Loyalty and reward programs can turn one in five casual restaurant diners into a regular. Problem: 53 percent of casual visitors don’t use these programs because they don’t think they are available. As part of its Delivering On Restaurant Rewards program, PYMNTS surveyed 2,079 U.S. consumers to find out how restaurants can use loyalty programs to increase ordering frequency and restaurant spending.
Grocery Store Review: Grocers Take Stock After a Chaotic Year
As we approach the year-long COVID-19 quarantine period, retailers are redefining their business models and priorities. Supermarkets are expanding this week, introducing new technologies and planning major changes.