Aug 19, 2020

Samsung and Curve increase UK customer spending power

Samsung
Curve
Mastercard
payment solutions
William Girling
2 min
Samsung's new Pay Card in collaboration with Curve and Mastercard could indicate more widespread acceptance of digital payments' predominance
Electronics multinational Samsung has released details of its new Pay Card in collaboration with payment solutions fintech Curve...

Electronics multinational Samsung has released details of its new Pay Card in collaboration with payment solutions fintech Curve.

Curve, which specialises in consolidating users’ finances from potentially numerous cards into just one, will also be joined by Mastercard in this new venture. Essentially, Samsung will utilise the former’s technology combined with the latter’s global reach to launch its new product.

Since it employs a lot of the same technology as Curve’s cards, customers can expect to receive similar benefits, including:

  • An allowed ‘payment reversal’ time frame in the eventuality of paying with the wrong card, wherein the user can redirect the debit correctly.
  • Exclusive spending rewards such as 1% instant cashback on selected brands and 5% on Samsung products.
  • Better currency conversion fees while abroad via access to the mid-market rate.

Changing the game for UK customers

One consequence of the pandemic appears to be an accelerated focus on payment solutions innovation globally. While companies like Curve existed prior (it was founded in 2016), the adoption of its technology by larger companies such as Samsung could be indicative of wider trends.

As physical cash deteriorates in popularity - something which was arguably already taking place but has now been expedited by efforts to stem COVID-19 contact infection - an increasing dependency on digital payment methods such as cards and apps seems likely. 

Both Yapily’s partnership with American Express and Up Romania’s collaboration with PayByFace, which make use of biometric authentication to validate payments, represent the exciting new direction being explored within the industry.

Kelly Devine, President of Mastercard UK & Ireland, which itself measured the shift from cash to digital payments in June, stated that the company was excited to expand its pre-existing relationships with both Samsung and Curve in this direction:

“We are thrilled [...] to bring this innovative digital-first solution to market, offering consumers convenience, flexibility and choice over how to pay, all underpinned by the trusted safety and security they expect from Mastercard.”

Conor Pierce, Corporate VP of Samsung UK & Ireland added, “Now, more than ever, people need a secure payment solution they can rely on. We’re excited to be able to put the control back into our customers’ hands by launching Samsung Pay Card.”

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Jun 24, 2021

NFT Marketplace Rarible Raises US$14.2m

Fintech
NFT
Rarible
funding
2 min
NFT marketplace Rarible has raised fresh capital to create user-friendly developments and launch an additional marketplace on the Flow blockchain

Non-fungible token (NFT) marketplace Rarible has announced that they’ve closed a US$14.2m Series A from Venrock Capital, CoinFund and 01 Advisors

Alongside the funding announcement, Rarible has shared that they’ve officially partnered with NBA Top Shot maker Dapper Labs to bring their NFT marketplace to Dapper’s Flow blockchain. Dapper Labs has begun building out a wider coalition of NFT platforms on its proprietary blockchain which is more energy-efficient and less costly than transactions on the Ethereum network. 

To mark this next phase, we are also proud to enter an official partnership with Flow. Dapper Labs has an impressive track record of bringing NFTs mainstream by creating native experiences for non-crypto audiences. As a blockchain, Flow enables easier access and lowers the entry barrier for traditional consumers and brands, which makes it a perfect partner on our journey to the wider adoption.

“In the coming couple of months, we will be bringing Rarible on Flow as a primary and secondary marketplace, also welcoming the robust ecosystem of projects built on Flow blockchain,” Rarible said. 

According to the company, last June, 6 months post-launch, total trading volume on Rarible hit the $28,000 mark. By June 2021 it grew by a mind-blowing 3000x, reaching $150 million in total sales. 

“Just as we have always been at the forefront of the NFT movement, Rarible is determined to pioneer the next wave,” the co-founder of Rarible’s marketplace and CEO Alexei Falin said. “With this company milestone, we are thankful for the support of Venrock, 01 Advisors, and Coinfund and look forward to going beyond the current enclosed crypto environment and taking NFTs into mainstream consciousness.”

User-friendly developments 

In a blog post the company says they hope to use this funding to explore more user-friendly developments like accepting credit card payments. “We need a world where an indie creator can effortlessly create an NFT and sell it for $5 to his community of supporters, as well as where a pop icon can use NFTs to establish close contact with her multi-million audience in a sustainable way.”

Rarible has a lot underway in the upcoming few months, including the launch of Rarible NFT protocol, L2 solution for scalability and sustainability, credit card payments, adoption of Flow blockchain, multiple partnerships and drops, and more. Many projects are already working on integrations with Rarible protocol, such as the partnership with one-click NFT creator S!NG that allows users to mint and put their NFTs on sale with no costs involved.

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