In today’s connected economy, TikTok is rolling out new features to help brands promote their products on popular social media platforms. Additionally, PYMNTS is eyeing Apple Pay adoption and Grubhub is partnering with Bank of America to offer cardholders his Grubhub+ membership free of charge.
TikTok aims to blend content and commerce with ‘shopping ads’
TikTok is launching “Shopping Ads,” a service designed to help brands “meet shoppers wherever they are in the shopping journey,” increasing demand and sales. This service comes with three offerings that you can adopt and combine. Video Shopping Ads allow brands to place “highly relevant, shoppable videos” on their For You pages, allowing users to browse the company’s products. LIVE Shopping ads, on the other hand, are designed to attract shoppers who are more likely to make a purchase. There is also a Catalog Listed Ads tool that allows brands to promote “massive product catalogs with new placements across TikTok” without the need for video assets.
Apple Pay certainly won’t bet as contactless cards rule
According to The Wall Street Journal, eight years after its launch, Apple Pay has made significant inroads into commerce, thanks in large part to Apple’s “patience” and “persistence.” The percentage of iPhones with Apple Pay enabled has increased from 50% in 2020 to 75% today. However, his 90% of American retailers now accept Apple Pay. Still, according to PYMNTS research, the mobile wallet landscape is small compared to overall transactions, with Apply Pay making up just his 2.8% share of all in-store transactions.
Bank of America and Grubhub Offer Cardholders Food Delivery Perks
Bank of America has partnered with Grubhub to offer eligible bank cardholders a free 12-month membership to Grubhub+. The membership allows cardholders to buy free shipping on orders over $12, as well as other perks from Grubhub’s restaurants.
QSR split between the future of the metaverse and the present of gaming platforms
CKE, the parent company of quick service restaurant (QSR) brands Carl’s Jr. and Hardee’s, has partnered with Twitch to enable Twitch streamers and viewers to create custom menu items. Gaming and streaming platforms like Twitch, which already have a broad user base, may be a safer bet for brands than diving into the metaverse. Meta’s Horizon Worlds, where Wendy’s hosts the metaverse, has 300,000 monthly users, while Twitch has 31 million daily viewers.
Ripple, Brazil’s Travelex Bank Add Crypto-Based Cross-Border Payments
To enable cheap and fast cross-border payments using cryptocurrencies, enterprise blockchain and crypto solutions provider Ripple has teamed up with Travelex Bank to bring RippleNet’s on-demand liquidity (ODL) solution to Brazil. introduced to Ripple’s ODL tool allows customers to send money across borders instantly and at low cost. Travelex Bank is a digital bank dedicated to foreign exchange.
Bond Financial Debuts Custom Credit Builder Card
Embedded financial platform Bond has launched the Credit Builder Card to make it easier for FinTechs and other businesses to deploy secure credit cards for their customers. Powered by the Mastercard network and issued by Bond’s sponsoring bank, Evolve Bank & Trust, the card was developed to be customized to a company’s needs. According to Bond, the card is designed to help brands and fintechs rebuild the credit histories of customers with credit problems and improve their FICO scores.
Wix Partners with Vyne on A2A Payments for UK Merchants
Vyne, an open banking payments platform, has partnered with Wix, a Software-as-a-Service (SaaS) content management system. The partnership will give his Wix merchants in the UK access to Vyne’s account-to-account (A2A) payment infrastructure. Merchants using Wix can offer their customers the ability to pay using their mobile banking app.