Today in the payments news roundup, The We Company, the owner of WeWork, is reportedly moving ahead to roll out an investors’ roadshow as it eyes an initial public offering (IPO). Also, China’s Q2 economic data shows a 6.2 percent growth, but investors and economists believe the numbers are not as good as those that were officially released. And Jack Dorsey reportedly does not have an interest in creating a Libra-like cryptocurrency for Twitter or Square.
The We Company, owner of WeWork, is reportedly moving ahead to roll out an investors’ roadshow. The company’s IPO, however, is said to be controversial after discussions estimated it could be valued at just over $20 billion. That figure is under half of its $47 billion valuations after January’s fundraising round.
Jack Dorsey reportedly is not planning to create a cryptocurrency similar to Facebook’s Libra. Dorsey said, per published reports, that he doesn’t have an interest in developing a digital currency for either Twitter or Square. Instead, he promoted the use of bitcoin.
China’s Q2 economic data shows 6.2 percent growth; however, investor and economists believe the numbers are not as good as those that were officially released. While China’s reported data came in close to Beijing’s target, a multinational index of Chinese production reportedly indicates much smaller growth.
Microsoft President Brad Smith is worried about how thieves are weaponizing tech, and he is berating Facebook for allowing it to fester on its network. Smith said per reports that social media firms shouldn’t make money from hatemongers posting vile content and then avoid liability.
More firms are conducting business abroad than at any time in recorded history, with the worldwide economy more interconnected than ever. Businesses reach more customers in more markets, but they also have to learn how to work with a highly fragmented and complex international payments ecosystem.
Consumers tend to do a bit extra when it comes to loyalty programs — mainly, increasing their store visits and purchase frequencies, per a discussion between Karen Webster and Andrew Robbins, co-founder and president of Paytronix Systems. Even the most loyal shopper, however, is unlikely to go those full 500 miles to gain those rewards, so to speak. That idea offers provides serious lessons for merchants trying to gain an edge in the quick-service restaurant (QSR) sphere.