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No stock market for Stripe: Stripe has proven popular with venture capitalists, enough to nearly double its value in 2016, but it has no near term plans to go public. Digital Trends reports CEO Patrick Collison used Amazon's experience as a reason why Stripe will stay private for now. While Amazon is a mammoth company today, it had a few turbulent years after going public in 1997, according to Collison. There's also a broader structural challenge across the m-commerce technology industry that makes an IPO difficult at this time, Collison said. Finally, an IPO could challenge Stripe's ability to evolve at its own pace and take measured risks. Stripe, which offers tools that enable businesses to add payments functions to their own websites, was founded seven years ago, and has been gradually adding technology and international markets since. It has also played a major role in enabling payments for social networks.
Kik chats about payments: Chatbots are still a work in progress when it comes to adding ancillary services, and one of the top executives in the business says payments can be the catalyst that sparks faster adoption for bot programs. Ted Livingston, CEO of Kik, which has more than 300 million registered users and is valued at more than $1 billion, told TechCrunch the chatbot market is in a holding pattern until payments technology can give it a boost. Kik opened its chatbot platform and store a year ago, and reports 20,000 bots have been built on top of Kik and more than 2 billion messages have been exchanged. Kik is now looking to build payments into its chatbot program, and it's in a race against other companies that seek to add transaction technology to chat programs. Slack recently adopted payments and Facebook has also embedded payments into bots. China-based WeChat is also attracting companies that wish to use the service to tap the lucrative market for Chinese travelers.
A tech payment account for techies: A South African developer group called OfferZen is testing a programmable account that allows users to build personalized services. According to iafrikan, the account includes codes for payment cards, savings and other financial transactions. Root hosts the code in the cloud, as well as application programming interfaces for online banking and digital payments. OfferZen's account is in private beta, and some of the early features include an Uber card with preprogrammed transaction parameters for a social group, SMS notifications for transaction types, transaction tracking, and a round-up feature that saves change from card purchases as part of a saving goal. OfferZen is positioning the service to technology developers as a way to gain more control over their finances.
Frankfurt's center of fintech : Similar to collaboration centers such as Toronto's MaRS, a new German development center is attracting financial and payment technology companies. Called "The Spot," it's located in Frankfurt's financial district and close to the city's main railway station. Finextra reports a number of financial technology companies have moved into the spot in the past few months, including digital payment provider Billwerk, fintech VC Digital+ Partners, fintech incubator MainIncubator and Ginmon, a digital investment advisor. The new center hopes to serve the 80 financial technology startups in Frankfurt and is designed to complement other development centers in the area such as Deutsche Bank's Digitalfabrik. Similar to centers that have opened in Paris and London, The Spot includes access to investors, researchers, and collaborative work areas.
From the Web (powered by Wiser)
Can Apple Double Its Service Business By 2020?
Seeking Alpha • Alex Cho
We expect Apple’s Service revenues to double by 2020 when assuming meaningful Apple Pay contribution. Apple may need to supplement these efforts with M&A, though effectiveness in terms of value addition is subjective at best.
GameStop Is Investigating a Possible Credit Card Security Breach on Its Website
Fortune Magazine • Aric Jenkins
The breached data could include customer card numbers, expiration dates, names and addresses.
Bank Valuations At Inflection Point: Q1 Earnings Reports Loom Large
Seeking Alpha • Richard J. Parsons
Summary The purpose of this post is to create a comprehensive framework for evaluating today's bank valuations. Bank valuations today are not extraordinary from a 27-year perspective but are significantly higher than at any time since the Financial Crisis.
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