Today in the Connected Economy: Snap's AR Mode

Today in the Connected Economy: Snap’s AR Mode

Today, in the connected economy, Snap executives are designating their augmented reality apparel and fashion offerings as a virtual alternative to the metaverse.

Additionally, Dubai is stepping up its efforts to become the metaverse capital of the world, and Robinhood is partnering with Circle to increase access to USD Coin.

Snap Luxury Boss: augmented reality is the future of fashion

Snap’s head of luxury promotes the potential of augmented reality (AR) in clothing and other branded products.

Snap’s Geoffrey Perez made the remarks during the Bloomberg Technology Summit in London, while wearing a pair of his company’s AR glasses.

“Every day we have 250 million people interacting with augmented reality on our platform,” he said. “Not just to try on dresses, but also jewelry and makeup. This is how we plan to engage with the real world in the future.

Dubai steps up its efforts to become the metaverse capital of the world

As key players arrive at the Dubai Metaverse Assembly, the capital of the United Arab Emirates (UAE) hopes to claim the title of Metaverse Capital of the World at a time when the concept is gaining traction around the world.

The conference follows another event in the city – Metavision – which saw some of Dubai’s most senior officials meet with private sector players to discuss topics ranging from cryptocurrency to non-fungible tokens (NFTs), trade experiential, of how governments should prepare for the metaverse and the merging of the physical and digital worlds.

In his remarks to Metavision, Marwan Alzarouni, CEO of the Dubai Blockchain Center, said “Whoever controls the metaverse will control the world”, an indication of the scale of the stakes perceived by industry players.

Circle partners with Robinhood to simplify and extend the use of USDC

Circle Internet Financial, which issues USD Coin (USDC) and Euro Coin (EUROC), is working with Robinhood to make it easier for customers to learn and use USDC.

Robinhood Crypto and new Robinhood Wallet customers can now buy, sell and receive USDC through the partnership.

“The launch of USDC on a popular consumer platform like Robinhood reinforces the role USDC plays in larger payments and commerce use cases,” said Jeremy Allaire, co-founder and CEO. of Circle. “Through this partnership, we look forward to jointly presenting [Web3] to a new generation of tech-savvy and digitally connected individuals.

Lavu, Parafin partner to offer cash advances to restaurants

Restaurant software and payment platform Lavu has unveiled a new tool that offers cash advances to restaurants.

The new Lavu Capital product is powered by integrated fintech company Parafin and gives restaurants “easy access to quick capital,” the companies said in a press release.

“It’s frustrating how many restaurant owners don’t qualify for traditional loans despite having strong track records,” said Lavu CEO Saleem Khatri. “The same way we’ve helped thousands of restaurants quickly switch to online ordering to survive the pandemic, we’re launching Lavu Capital to help more restaurants keep their doors open during tough times.”

Partner Hub, Answer Pay Team on e-Invoicing, Request-to-Pay Services

Payments-as-a-service platform Answer Pay and online billing technology and services company Partner Hub have teamed up to make it easier for banks to offer payment request and e-billing services to customers .

Collaboration combines Answer Pay’s payment request service with Partner Hub’s ability to reformat billing data from enterprise resource planning (ERP) systems for invoice presentation and automatically generate payment requests on Answer Pay’s payment request networks.

“With our [eInvoice] solution, the two largest banks in Hungary were able to get up and running quickly and safely,” said Partner Hub co-founder Katalin Kauzli. “We look forward to working with Answer Pay to help banks across the rest of Europe take full advantage of this powerful combination of [eInvoicing] and [request-to-pay].

PingPong, uncapped partner on capital advance for European merchants

In an effort to help e-commerce merchants who want to grow, PingPong Payments and Uncapped are working together to help PingPong customers in Europe get a capital advance from Uncapped.

The loan services agreement brings together customers of PingPong’s end-to-end payment products for cross-border businesses with Uncapped’s revenue-based financing that can help fund their online businesses.

“With Uncapped, PingPong is making a meaningful offer for PingPong customers to receive fast funding, which would be key to their business success in the e-commerce world,” said PingPong Europe General Manager Chunhe Zhang. , in a press release. “The partnership is an important step signifying PingPong’s further steps towards comprehensive services for e-commerce sellers in Europe.”

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.


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