Daily Tearsheet: Afterpay is doing OK under the Block/Square umbrella, and StrawberryFrog CEO on activating corporate purpose behind financial brands
- While the BNPL bubble may be undergoing some change, Block's Afterpay acquisition seems to be growing at a good clip.
- Also, on Tearsheet today, how top financial brands are finding movements their employees and customers can get behind.
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After integrating Afterpay with Square Cash App and Seller ecosystems, in-store sales are up 384%
On May 17, Square announced that it will be extending Afterpay’s BNPL services to its in-store merchants in the United States and Australia. This news comes a mere 3 months after Block’s acquisition of Afterpay, which is aimed at introducing BNPL capabilities across all of Block’s online commerce and in-person sales ecosystem.
The BNPL firm is doing OK under the Block/Square umbrella -- Afterpay’s adoption by small businesses has risen 18x and in-store sales grew 384%.
The Acquire Podcast Ep. 11: Movement as marketing and transformation with StrawberryFrog's Scott Goodson
In episode 11 of Acquire, Tearsheet’s Marketing Podcast, host Rebecca Alma Cohen, Head of Tearsheet Studios, speaks with Scott Goodson, founder and CEO of StrawberryFrog, a marketing agency that works with some of the largest financial brands in the industry.
This conversation is a bit different as Scott talks about his recent book, Activate Brand Purpose: How to Harness the Power of Movements to Transform Your Company. However, the conversation ended up covering much more: doing marketing with soul and intention, the shifting pyramid of power where the boss is no longer God, and the power of truly taking on corporate responsibility.
Just look at the charts
1. JPMorgan is really that big
Source: Efi Pylarinou
2. JPMorgan's history with fintech
Source: Chris Skinner
Today's stories
BofA is monitoring employee attendance
Bank of America wants its suits back in the office at least four days a week, while the bigwigs in M&A want to see their staffers back five days a week (Business Insider)
'Cash to Crypto' service by MoneyGram
As a result of a partnership with the Stellar Development Foundation, MoneyGram is rolling out a service that will enable users to buy cryptocurrency using cash, as well as allow them to withdraw their crypto holdings in cash, at select MoneyGram locations (Finovate)
Crypto.com and BlockFi join other major crypto companies laying off employees
Crypto exchange Crypto.com and lending platform BlockFi plan to cut a total of more than 400 jobs, joining an expanding list of crypto companies, including Gemini and Rain Financial, looking to reduce headcount. (CoinDesk)
WebBank makes a strategic investing in iCreditWorks
iCreditWorks, a US fintech platform, has taken a strategic investment from WebBank at a $200 million valuation that will allow it to accelerate the commercial growth of its omnichannel platform -- which features a native mobile app for the Point-Of-Sale sector (Yahoo)
Quavo partners with Qolo to reduce dispute processing costs using automation
Quavo Fraud & Dispute Solutions, which provides cloud-based fraud and dispute management SaaS solutions for issuers, is partnering with the omnichannel payments platform Qolo to reduce dispute processing costs and fraud losses for issuing FIs (Quavo)
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