Today In Payments: Krispy Kreme Seeks $560M IPO; Facebook To Expand Shops To Marketplace WhatsApp

Today In Payments: Krispy Kreme Seeks $560M IPO; Facebook To Expand Shops To Marketplace, WhatsApp

June 23, 2021 at 09:42PM

In today’s top news, Krispy Kreme is eyeing a $4 billion valuation in its initial public offering (IPO), and Facebook will expand its Shops feature to WhatsApp and Facebook Marketplace. Plus, McDonalds is rolling out its loyalty program nationwide in July.

Krispy Kreme Seeks $560M IPO At $4B Valuation

Krispy Kreme is seeking to raise between $560 million and $640 million at a near $4 billion valuation as it moves forward with its planned IPO. The donut chain had a banner 2020, fueled in part by the public’s cravings for sugary treats during the pandemic lockdowns.

Facebook To Expand Shops To Marketplace, WhatsApp

Facebook is expanding Shops to Marketplace and WhatsApp, allowing companies in some nations to highlight their Shop in WhatsApp, and, in the United States, letting companies take Shops merchandise into Marketplace.

McDonald’s Preps National Loyalty Rollout

McDonald’s, something of a latecomer to the loyalty and rewards game, said its loyalty program will be available all across the country starting July 8. This focus on promoting digital ordering channels goes along with the company’s Accelerating the Arches growth strategy announced in November 2020, in which the company announced that it would double down on “the 3Ds” (digital, delivery and drive-thru) to drive sales.

Mastercard, Bilt Launch Credit Card To Use On Rent Payments

Mastercard has unveiled a new credit card in partnership with real estate startup Bilt Technologies that it says will help renters make down payments on a future home. The can be used at any rental unit or apartment with no fees, letting customers earn points for things like travel, rent credits and down payments on a home.

NEW DATA: 96 Pct Of CFOs Are Digitizing Payments To Improve Customer, Vendor Satisfaction

Chief financial officers have a new take on the importance of digitizing payments flows — and it’s about the lifetime value of their customers. In The Strategic Role Of The CFO, PYMNTS surveyed CFOs at 400 U.S. firms and found that 93 percent of are digitizing their accounts payable (AP) and accounts receivable (AR) processes to improve customer and vendor satisfaction.

Behavioral Analytics Pulls Double Duty On Fraud Prevention, Customer Conversion

Taps and swipes signal whether an online visitor is a fraudster or a legit customer struggling to complete a transaction. In this month’s Monetizing Digital Intent Tracker, Harris Chen, senior product manager at identity decisioning platform Alloy, says that behavioral analytics do both — prevent fraud and boost conversion by pinpointing where consumers abandon and why.

Warby Parker IPO Would Tap Dual Specialty Retail And D2C Trends

Warby Parker submitted a confidential filing to the Securities and Exchange Commission (SEC) to take its direct-to-consumer company public. The filing signals that management is looking to ride the tailwinds of the great digital shift to eCommerce — and, perhaps, of the consumers’ continuing propensity to spend.

Facebook To Expand Shops To Marketplace WhatsApp

Facebook To Expand Shops To Marketplace, WhatsApp

June 23, 2021 at 01:07AM

Facebook revealed new ways to shop throughout it apps, as the social media platform is expanding Shops to Marketplace and WhatsApp, according to a Tuesday (June 22) announcement.

To that end, Facebook will provide companies in some nations the choice to highlight their Shop in WhatsApp in the near future, the announcement stated. And, in the United States, it will let companies take Shops merchandise into Marketplace, which will assist them in reaching the over 1 billion people around the world who visit monthly.

The planned expansion comes as Facebook said in the announcement it sped up the rollout of Shops — as the pandemic shuttered local economies in 2020 — to assist companies with digital sales.

“We believe the shift to online, social-first shopping is not temporary,” Facebook said in the announcement. “One in three shoppers globally say they plan to spend less time in-store even after the pandemic is over, and almost three-quarters say they get shopping ideas from Facebook, Instagram, Messenger or WhatsApp.”

The social media company said in the announcement it will keep backing economic recovery through “further investments in Shops and waiving fees for business sellers through June 2022.”

As PYMNTS previously reported, Facebook is making the Messenger API for Instagram available to every developer.

“Our vision is for messaging to be the primary way people and businesses communicate,” Facebook Vice President for Platform Partnerships Konstantinos Papamiltiadis said in an announcement. “Making it as convenient, unobtrusive and personalized as possible, using the same familiar apps and features used to communicate with family and friends today.”

And, on Monday (June 21), Facebook rolled out Live Audio Rooms to let users tune into and join live talks with public figures, event hosts and experts. The news comes as Clubhouse gained popularity amid the pandemic. Its voice-only app became famous with drop-in discussions from well-known people, such as Elon Musk.