This week’s roundup will feature titles on digital currency, investment in stocks and cash protection. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.
- BNPL provider, Klarna, has revealed its latest selling tool – an AI-powered personalised shopping feed. The feed will update in real time, giving users endless personal recommendations of products and deals that become further tailored as it learns about users’ preferences. [source: Finextra]
As a BaaS provider, we regularly see the use of customer data being used to cultivate optimised customer experiences, and Klarna is no different here. The personal shopping experience, created from AI tools means that customers will have access to bespoke products which feel personal. And the personalisation is essential to customer experience to increasing conversions and reducing cart abandonment. This new process, in tandem with a variety of payment methods, much like BNPL, are a powerful combination in the world of retail. – Jovi
- WhatsApp users in Brazil can pay businesses through the chat app, which is to support merchants increase conversion and revenues. Users in Brazil will be able to conduct payments via Mastercard, Visa debit, Visa credit and pre-paid cards. [source: Forbes]
In a world where consumers are constantly seeking for convenience, the enablement of payment through a mainstream chat application will offer security, convenience, and speed to payments. Payments through well-used applications is also a great way to support the country’s economy and smaller businesses who may not have access to payment services or business accounts. – Jovi
- Mbank and Dgpays Group have partnered to offer a digital wallet to users in the United Arab Emirates, to help business owners, freelancers and entrepreneurs integrate digital payments into their businesses. [source: PYMNTS]
This collaboration will bring digital benefits to merchants in all areas of society through this inclusive payment system which brings financial services closer to users and merchants. Digital wallets also offer a greater sense of security and autonomy over funds, which will offer assurance to shoppers who prefer a mobile-first experience across the UAE. – Jovi
See you next week, back in the blog for your next weekly news roundup.