In today’s top news, Shopify has upgraded its shopping platform and cut developer fees, and Afterpay has introduced new Pulse Rewards. Plus, Klarna is working with Liberis to offer financing to small businesses.
Shopify has rolled out several new updates to its shopping platform, including reducing the developer revenue share from 20 to 0 percent for the first $1 million the companies earn annually. The platform also added Payments Platform, a way to integrate third-party payment gateways into the checkout process, and more customization options to stores so that merchants can showcase brands in new ways and integrate apps.
Buy now, pay later (BNPL) company Afterpay has announced expansions to Pulse Rewards, its loyalty program rewarding those who pay on time. Users will be able to earn 10 points for every eligible on-time payment, and can earn extra points for supporting sustainable brands and small businesses.
Buy now, pay later platform Klarna is collaborating with embedded business finance firm Liberis to offer merchants revenue-based loans and other financial services. The financing function for merchants will be seamlessly integrated into Klarna’s platform to assist small businesses around the world.
Trillions of dollars in intergenerational wealth will be transferred from baby boomers to their heirs. Online investing and retirement planning are gaining traction to help put that money to work — as evidenced by J.P. Morgan’s bid to buy OpenInvest, which focuses on ESG.
As much as the next big thing is still taking shape, what came before it is never coming back, at least not when it comes to payments and commerce. That was the consensus of more than 46 C-suite executives and corporate leaders when asked about the emerging digital economy for PYMNTS’ Q2 eBook. The good news, this elite group agreed, is that what does come back will be better for both consumers and businesses than the way things were before.
Consumers want instant payouts and choice for how to receive those funds, and businesses know both are necessary to stay competitive. But originators often find it more complicated to deliver speed and choice than first imagined, Ingo Money CEO Drew Edwards and Chief Product Officer Lisa McFarland told Karen Webster.
SoftBank is pressing the pause button on its robot, Pepper, the company’s unofficial mascot for years. Robotics aren’t dead; in fact they’re showing up everywhere these days. But companion bots are rapidly giving way to more practical, business focused, behind-the-scenes alternatives.