Amazon launched a credit card product in Brazil in an effort to compete with Mercado Libre and ramp up its fintech strategy in South America.
Amazon's deal with Venmo has the potential to set a new standard for payment tenders in general, and other brands are likely to follow in its footsteps.
Jeff Bezos does not care about competitors, only customers How can financial institutions provide more Amazon-like services?
digital transformationEmbedded Financeenterprise blockchainexchanges / cap mktsmega banksneobankopen banking / PSD2open source·
In this analysis, we focus on Goldman Sachs launching an institutional embedded finance offering within Amazon Web Services, and Thought Machine raising a unicorn round for its cloud core banking platform. We explore these developments by focusing on the emerging role of cloud providers as distributors of third party software, think through some of the implications on standalone fintechs and open banking, and check in on AI company Kensho. Last, we highlight the difference between Web3 and Web3 approaches to “cloud”, and suggest a path as to how those can be rationalized in the future.
PayPal just launched what it calls a super app. It has a cash account with a 0.40% interest rate, direct deposit, money movement, bill pay, and remittance features. It also integrates shopping functionality with rewards and cash back. In this analysis, we compare this offering with Google Pay and Square Cash App, as well as trace the DNA of PayPal to understand whether such an offering will succeed where others failed.
Amazon partnered with Affirm to offer BNPL to their North American customers.
At the end of September, Lendistry reached the one-year mark running the Amazon Community Lending program.
We discuss the Facebook pivot into the metaverse and its rebrand into Meta. Our analysis touches on the competitive pressures faced by the company from big tech players, other ecosystem builders, and limits to growth for a $1 trillion business that likely motivated this refocus. We further dive into network effects around platforms, and why super apps and financial features are attractive, and how owning the hardware is a required defensive strategy. Lastly, we discuss these development through the crypto and Web3 lens, deeply disappointed with Facebook trying to domain park a generational opportunity with a centralized solution.
Paypal Mafia buy now pay later fintech the talk to the town having snagged the biggest e-commerce market in the world.
Certain customers will be able to use an Affirm pay later option at checkout, Amazon said in a press release.