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Bruce B. Dec 11, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Walmart is about to make another major splash into the financial-services world through its fintech venture, called ONE.

The retail giant last year entered into a strategic partnership with investment firm Ribbit Capital to acquire two different platforms and create the fintech startup, known as “ONE”.

ONE will offer its own Buy Now, Pay Later loans to Walmart customers as soon as next year. This follows an earlier move to offer banking accounts to Walmart employees.

The latest development comes roughly a year after Walmart customers revolted against the retail giant for abandoning its popular layaway program. Instead, Walmart said at the time, customers should use its buy-now-pay-later service, which it offers through a partnership with Affirm.

Buy Now Pay Later jumped 85% during the period between Thanksgiving and Cyber Monday, compared with the prior week.

Walmart says over time, the ONE app will be integrated inside Walmart’s physical and digital channels offering solutions to its 1.6 million U.S. associates and 100 million-plus weekly shoppers.

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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 8, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Tony Fadell, a career Silicon Valley executive known as the “Father of the iPod”, unveiled his latest project - a hardware wallet used to store cryptocurrency offline.

Fadell spent almost a decade at Apple under Steve Jobs, where he oversaw the design of the portable music player, and later helped create the company's best-known device, the iPhone.

After quitting Apple in 2008, he launched Nest Labs, a smart home-devices company. Nest was later acquired by tech giant Google for $3.2 billion.

Now Fadell has teamed up with Ledger, the French technology firm, to design a new offline cryptocurrency wallet.

The recent collapse of crypto exchange FTX, which has seen more than $1 billion of customer’s funds vanish, prompted an unprecedented surge in demand for offline, or "self-custody", services such as Ledger.

Previous models released by Ledger, such as the Nano S, have been shaped like USB memory sticks.

Fadell's new design, the Ledger Stax, is a credit-card sized device featuring a curved spine and electronic-ink display.

"All of the secure hardware up to this point was like all the MP3 players before the iPod, and it was time for an iPod," said Ian Rogers, chief experience officer at Ledger.

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