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Fintech

ShopNEXT partners with Visa to launch the first-ever Web3 Loyalty Platform

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ShopNEXT has partnered with Visa to launch the first-ever Web3 Loyalty Platform. Any user with a Visa card can not only shop conveniently, but also can earn token rewards. This ingenious loyalty platform is expected to help millions of merchants grow businesses and contribute to rapidly stimulating the global economy as well as bring Web3 to the masses.

How does it work?

ShopNEXT utilizes the card-linked feature of the Visa Offers Platform that allows any user to link a Visa card to their mobile app. Through VisaNet, ShopNEXT will be able to track all successful card payment transactions and reward users with the token on top of them, instantly. ShopNEXT token is a kind of loyalty point but the difference is that it is developed on blockchain.

Moreover, ShopNEXT also introduces in-app gameplay and NFT cards, which give users options to boost their earning rewards. Shopping, gamification, and NFT will create an innovative Shop-To-Earn model.

How can it be a sustainable model?

Unlike other models like Play-To-Earn or Move-To-Earn, Shop-To-Earn is much more sustainable because it contributes real value to the economy by building a win-win collaboration with all parties involved. Users are encouraged to shop more to earn more token rewards, which helps merchants grow their businesses.

To strengthen the model’s uniqueness, ShopNEXT defined a new term called External Profit Reserve (EPR). 100% of the profit from merchants and card issuers’ sales commission will be sent to the EPR to back all the tokens issued on the market. This is to make sure every token has an intrinsic value that is generated by users through their shopping.

Mr. Linh Le, ShopNEXT CEO, shared his view on the collaboration with Visa: “We want to leverage the beauty of Web3 to create an appealing Loyalty platform. In the situation that the global economy is struggling to grow due to COVID-19, our mission is to help merchants grow their businesses by motivating everyone to shop and earn token rewards, which contributes to rapidly stimulating the world economy. From there, we also provide the easiest and safest gateway for everyone to start their Web3 journey with the Shop-To-Earn model. This collaboration with Visa will help us accelerate the process of acquiring merchants and users efficiently.”

Ms. Dung Dang, Visa Country Manager of Vietnam and Laos, said: “Visa is excited about this new collaboration with ShopNEXT that is pushing out the horizon of digital shopping. More consumers now shop online than ever before and they are showing great appetite for new digital experiences like token reward based on blockchain technology and NFTs. Our partnership will help consumers shop without worries while enjoying the speed and security of Visa payments and earn exciting novelties like NFTs.”

As a veteran in the affiliate-based business area for many years, ShopNEXT understands the pain point of reconciliation time and believes this new card-linked feature will solve this problem completely by offering instant rewards. NFT gamification has already proven its success in user acquisition, both traditional and digital. Combining daily spending activities with NFT gameplay is expected to create a new trend in the Web3 space.

Web3 has already been beginning to transform how companies think about consumer loyalty, and this wave of innovation will only continue to accelerate. ShopNEXT will lead the trend by creating the most appealing Shop-To-Earn model, which can bring many benefits to users and merchants.

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Fintech

Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator

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Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.

GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”

Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”

The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.

The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .

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Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets

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Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.

As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.

With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.

Supervision by International Regulatory Institutions to Ensure Top-Tier Safety

As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.

Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.

Dedication to Shape the Industry with Innovative Solutions

Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.

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This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.

Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.

Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!

E-mail: [email protected]

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Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation

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Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.


1. European Fintechs Face Regulatory Pressures Amid New Investment Surge

The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.

Source: Financial Times


2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push

Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.

Source: Yahoo Finance


3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East

Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.

Source: Fintech Global


4. Apollo Global Management Invests in Fintech for Private Offerings Support

Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.

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Source: Bloomberg


5. Juniper Research Names 2025’s Future Leaders in Fintech

Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.

Source: Globe Newswire


Conclusion

The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.

 

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