New CLO Industry Data Shows Strong Growth Despite Pandemic
The CardLinx Association released industry data revealing the latest trends in digital commerce and card-linked offers or “CLO”. Based on input from fin-tech, ad-tech and merchant leaders worldwide, the global trade association’s 2020 findings show significant industry growth, including a 40% increase in the share of advertising budgets devoted to card-linking.
Private Equity Firm Invests $650 Million in Klarna
CardLinx member Klarna, a Swedish payments company, boosted by the shift to e-commerce brought on by the pandemic, has raised $650 million from a Silver Lake-led investment group. With presence in Europe, the UK, the US, Canada and Australia, Klarna will leverage the investment to continue global expansion and develop new offerings.
Klarna was the first to capitalize on Millennials’ preference to not carry credit card debt and at the same time not expose themselves to risk associated with debit cards. Klarna appeals to these consumers by allowing them to pay in interest-free installments and giving them opportunity to try before they buy.
WeChat Ban in US Could Shake Up Payments Industry in Both US and China
Trump’s attempt to ban WeChat transactions in the US based on concerns about the Chinese government’s ability to collect data from consumers in the US could have major repercussions within the mobile payments industries in both countries.
If the restriction on WeChat Pay’s execution of its cross border strategy goes into effect as anticipated, it will significantly impact the company’s international expansion plans. China is likely to retaliate by limiting US firms’ (i.e. American Express, PayPal and Mastercard) hard-won ability to do business there.
Tiffany’s $16 Billion Sale Falls Apart
The parent company of CardLinx member 24S of the LVMH Group, the world’s largest luxury retailer, is ending its planned takeover of Tiffany & Company. The government of France requested the deal be delayed on Aug. 31 because of a threat of U.S. tariffs on French goods, as well as coronavirus concerns.
The souring of this deal is an example not just of trade tensions, but also of the significant impact of the pandemic on in-store luxury retailers. A big part of the value of Tiffany is its empire of posh retail stores in the world’s leading commercial centers. Many of those brick-and-mortar destinations are now shuttered and the Tiffany business model looks more like a liability than an asset.
Card-linking: Emerging as the Preferred Digital Advertising Channel
Campbell Shaw, Head of Bank Partnerships at Cardlytics, discusses the growth of card-linking and how CLO will be used to drive more holiday spending, especially in e-commerce.
CardLinx members include the largest and most innovative companies in fin-tech, payments, retail, ecommerce and mobile wallets. Members include Microsoft, Samsung, Rakuten, UBS, RBC, Mastercard, Discover, Collinson, FIS, LVMH-24S, Hilton, Fidel, Augeo and many more in 17 countries and 4 continents.
We are bringing their insights from around the world straight to you in an informative new podcast called Commerce Code. The podcast features insights, interviews and the latest news from CardLinx members around the world. Stay connected and subscribe to Commerce Code.
CardLinx Forum February Webinar
“The Future is Frictionless for Consumers and Merchants – The Keys to Rewards Success”
Ryan Wuerch | Founder and CEO of Dosh
October 20, 2020
9AM – 1015AM PST
Dosh CEO Ryan Wuerch joins CardLinx CEO Silvio Tavares to take a deep dive into how everyone in the ecosystem – financial institutions, brands, and customers – benefits from a frictionless rewards experience.
CardLinx hosts a live, interactive webinar each month featuring speakers from some of the most influential companies in the world. They share insights on important and relevant topics for your business—including the impact of Covid-19 on consumer credit behavior, mobile wallet adoption, card-linking and lending trends. The webinar is always free to members and non-members are invited to attend at $149 per registration. Members and non-members are encouraged to register now as space is limited.
Curated 1:1 Video Meeting Among Webinar and Forum Attendees
CardLinx Meet-Ups is an opportunity to privately network one-on-one with another company attending the meeting. CardLinx Meet-Ups is available at all CardLinx online conferences and webinars. Please make sure to send all networking preferences to to firstname.lastname@example.org no later than Friday, January 8th for the next webinar and Friday, February 19th for CardLinx Europe.
CardLinx Commerce Tracker
The CardLinx Forum brings to you an interactive world map that tracks the top 20 national economies of the world.
Stay up to date with the constantly changing restrictions and reopenings of economic activity related to Covid-19 with the CardLinx Commerce Tracker.