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Bruce B. Dec 10, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Starbucks Odyssey, the coffee chain’s new Web3 rewards platform built on side-chain network Polygon, is officially rolling out to the world.

Starbucks launched the platform on Thursday for an initial group of beta testers chosen from its waitlist. A spokesperson said that Starbucks has seen “unprecedented interest in Starbucks Odyssey,” and that the response from customers has been “overwhelming” so far.

Starbucks Odyssey builds upon the firm’s existing Starbucks Rewards initiative, but with a Web3 twist. Users can earn rewards points for buying food and drinks at stores, but also for participating in activities via the Odyssey mobile app, such as quizzes and other digital experiences.

Completing activities and amassing points then earns users “Journey Stamps” tokenized as NFT collectibles on Polygon. These stamps, which reflect the history of the 51-year-old coffee juggernaut, can be collected and eventually traded.

The stamps and points also collectively unlock access to potential exclusive experiences, such as online drink-making classes, events at Starbucks’ flagship Reserve Roastery locations, or even a trip to the company’s coffee farm in Costa Rica.

In 2023, Starbucks Odyssey will launch its NFT marketplace powered by Nifty Gateway, letting users buy and sell their Journey Stamps, as well as purchase limited-edition NFTs created in collaboration with company partners.

Funds from the latter NFT sales will be used in part to donate to charitable causes.

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Bruce B. Dec 7, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Cannabis dispensaries across the U.S. are rushing to find alternative ways for customers to pay after networks that supported a popular workaround to the banking system began to shut down.

Cashless ATMs, also called “point of banking” systems, allowed cannabis buyers to use a bank card instead of cash. The method had evolved to get around the fact that credit-card companies and banks don’t want involvement in still federally illegal marijuana transactions.

Now the system is faltering because some of the largest processors of ATM transactions, have turned off the ability of processors to use their service.

Small dispensaries in Arizona, California and Massachusetts have all experienced outages, according to employees who were recommending that customers use cash.

Large dispensary chains of multi-state operators were also said to be affected.

Customers’ preference for the convenience of cashless-ATM-style systems had generated hundreds of millions of dollars in fees for little-known payment processors.

The crackdown on cashless ATMs comes exactly a year after Visa had said it was “aware of a scheme” involving cashless ATMs and that such transactions are prohibited on its network. While there are alternative payment technologies that are more compliant, some dispensaries see them as burdensome, and clunky for customers.

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Bruce B. Dec 6, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Rumors suggest that Elon Musk is planning to launch a new cryptocurrency, the Twitter Coin. In a tweet posted by researcher and blogger Jane Wong, there is an image many now consider a Twitter Coin logo.

In a different tweet, Wong hinted that Twitter could launch a crypto payment and tips feature sometime soon.

However, Wong’s account seems to have been deleted shortly after she posted the information. Nima Owji, a researcher, tweeted an image about Twitter working on payments, including a picture showing a “Coins” section in a hidden “Tips” setting on the app.

In response to the news about a possible Twitter Coin, DOGE jumped nearly 6% and hit $0.111. However, as of press time, DOGE is trading at $0.1061.

If the Twitter Coin turns out to be a different standalone cryptocurrency, an official launch could be problematic for other Twitter-popular “crypto assets”, including DOGE and Bitcoin.

A Twitter Coin may mean that the Musk-led company would be disinterested in official support for any other cryptocurrencies. However, the images leaked by Owji and Wong suggest that Twitter could embrace more than one crypto instead of sticking exclusively to the Twitter Coin.

#problematic1 #problematic6 #disinterested1 #problematic5 #problematic4 #exclusively3 #twittercoin1 #twittercoin0 #problematic0 #cryptocurrency #possibility9 #researcher #exclusively2 #possibility8 #exclusively1 #possibility7 #twittercoin #problematic3 #possibility6 #exclusively9 #exclusively8 #exclusively0 #possibility5 #possibility4 #disinterested7 #confidential9 #confidential8 #exclusively7 #possibility3 #possibility2 #twittercoin4 #possibility1 #confidential7 #twittercoin3 #exclusively6 #possibility #disinterested6 #confidential6 #confidential5 #possibility0 #problematic9 #disinterested5 #problematic #exclusively5 #disinterested4 #problematic2 #disinterested #confidential4 #exclusively4 #twittercoin3 #confidential3 #disinterested0 #confidential2 #confidential1 #confidential0 #disinterested9 #disinterested3 #exclusively #twittercoin2 #confidential4 #confidential #problematic8 #problematic7 #disinterested8 #financial #disinterested2 #processor
 
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