Connected economy: Instagram is testing NFT sharing


Today, in the connected economy, Meta’s Instagram platform is launching a pilot program that allows NFT creators and collectors to share their work.

Additionally, cryptocurrency platform Wirex is unveiling a new Visa card, US Bank and LiquidX are joining forces to speed up the supply chain, and Deluxe and Codat are teaming up to make accounting easier for Deluxe business customers.

Instagram is testing NFT sharing with some creators and collectors

Creators and collectors of non-fungible tokens (NFTs) will soon be invited to share their collections or works in an Instagram-driven pilot.

“At Meta, we’re looking at what creators are already doing through our technologies to improve the experience, help them create more monetization opportunities, and bring NFTs to a wider audience,” said Instagram’s parent company in a press release.

Meta said it will begin testing digital collectibles with a select group of designers and collectors from the United States. Features include connecting the digital wallet where the NFTs reside, sharing collectibles or collections, and auto-tagging the creator and collector.

US bank partners with LiquidX to accelerate supply chain transactions

US Bank is collaborating with FinTech trade finance LiquidX to facilitate transactions between buyers and sellers with the goal of creating faster and easier supply chain transactions.

“With so many supply chain challenges for businesses, we want to help make the funding process as smooth as possible,” said Dan Son, head of the global banking division at US Bank.

He added that the partnership will provide a single, intuitive interface that will connect suppliers, buyers and the bank in the supply chain ecosystem. The bank’s high debt ratings will allow it to unlock working capital for its customers, Son said.

Deluxe, Codat joins forces to improve accounting

Payments technology company Deluxe is working with small business data API provider Codat to enable customers who use Deluxe’s ​​payroll and HR solutions to automatically reconcile their accounting data in their accounting software.

“Seamless in-platform integration with a company’s accounting software is not common among payroll vendors today,” the companies said in a press release. “Historically, small and medium-sized business owners using accounting software, such as QuickBooks, had to export their payroll data from their current payroll provider’s platform and then manually import it into their accounting software.”

This offer is available to customers who use QuickBooks Online (QBO), the statement said.

Wirex, the Visa team on the encrypted Visa card

Six weeks after launch, cryptocurrency platform Wirex has more than 150,000 registrations on its app and now plans to work with Visa on a crypto card to offer a suite of payment and crypto-related services.

“Regardless of age, background, or experience, we strive to enable mainstream users to experience the benefits of crypto every day,” said Wirex USA Managing Director Harold Montgomery.

Wirex’s US product will allow users to buy, hold, trade and sell US dollars and 37 cryptocurrencies from its app, the company said.

Entersekt and the Capitec team to improve e-commerce security

Identity and device authentication solutions company Entersekt partners with South Africa’s Capitec Bank to deliver more secure e-commerce payments.

Entersekt’s solution uses behavioral analytics from NuData Security to provide risk-based authentication technology, the companies said in a press release, noting that they had worked together for two years.

“E-commerce or card-not-present fraud remains at an unacceptable level in South Africa, accounting for 80% of credit card fraud and 53% of debit card fraud last year, according to SABRIC,” said the CEO of Entersekt, Schalk Nolte. “Entersekt’s EMV 3-D Secure solution combines our strong authentication technology with the latest behavioral technologies to solve exactly this security problem.”

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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022

On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveyed 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.

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