Australian Fintech
PayPal launched a new credit card they euphemise as a ‘reward card’. Available July 2021 and no doubt ties in their strategy to be the next super app. Link
Stripe launched ‘Stripe Tax’ to help businesses with their tax compliance obligations. The suite of value-added services that Stripe provide creates significant lock in to the platform, a lot like the Salesforce model. Link
The ASX is spending more money on their blockchain-based CHESS replacement (their equity settlement software). I’ve referenced this a number of times in this newsletter and it seems that the idea and technology is there, but the availability of people to implement and understand the technology are not. So, they are looking to Grow Inc to do it for them. They partnered with AirTree to inject $25m into the startup. Link
Big Tech
Apple is heavily pushing their AR agenda, based off the announcement at their Worldwide Developer Conference (WWDC) this week. Link
Payments company Marqeta listed on the NASDAQ and closed up 13%, at a $16bn market cap. Marqeta is increasing its foothold in Australia for card issuing, including a partnership with Afterpay NZ. Link
Ride-sharing app ‘Didi’ that services China is looking to list in the US. DiDi’s valuation looks to be a whopping $100bn. Now they just need to have drivers available in Sydney. Link
Venmo added QR codes to facilitate P2P payments in the US. This currently exists in Beem and is a cracking feature (even more powerful when it gets extended to a consumer-to-merchant use case. Link
Potpourri
The Chaser tried to sell arms at an arms convention. So good. Link
Jimmy’s Notes
Still reading the book so will send some notes if I knock it over this weekend. Til then, enjoy the extra day for the long weekend WOO! Have a cracker ⛷
The following commentary is representative of me and not my employer, or the barista I see daily who that makes the tastiest coffee in Sydney
Trivia
(a) By mass, what is the largest planet in our solar system that has a chemical element named after it?
(b) Originally called Village Idiot, what band got its name from the change one band member made while working at Starbucks?
(c) True or false: Different parts of the tongue are dedicated to tasting different tastes.
(d) From Latin for "under penalty", you're under penalty if you don't obey what?
Trivia Answers
(a) Uranus (Uranium)
(b) Nickelback
(c) False
(d) Subpoena