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What’s Happening in Payments Ep. 8: Klarna and the future of BNPL, PayZen’s ‘Care Now, Pay Later’, and Mastercard’s ‘Smile to Pay’ system
In episode 8 of What’s Happening in Payments, host Ismail Umar digs into whether BNPL offers a sustainable business model for providers, and whether it’s even viable as a standalone business.
He also discusses PayZen’s ‘Care Now, Pay Later’ solution, as well as Mastercard’s recently announced ‘Smile to Pay’ system, and what it tells us about the future of privacy and security in payments.
Data Snack: DAOs are gaining traction with consumers as well as regulators
Recent data shared by Snapshot Labs’ Electric Capital Engineer Emre Caliskan shows that DAOs have increased in number by 8.8 times to 6000.
The number of proposals and votes has seen a similar jump, with an increase of 8.5x in proposals and 8.3x in votes.
A leaked draft of an upcoming bill shows that regulators may soon call for founders and users of all DAOs to disclose their identities to the government.
Just look at the charts
1. A wide range of BNPL models
Source: Nicolas Pinto
2. Startups in the healthcare fintech space
Source: Florian Graillot
A sign of the punishing environment for fintech
Klarna is considering raising fresh funds at a substantially lower valuation of around $15 billion, down from last year’s $46 billion (WSJ)
Musk envisions Twitter as a crypto payments platform
Elon Musk says money is fundamentally digital at this point, and it would make sense to integrate digital payments into Twitter so it’s easy to send money back and forth (CoinDesk)
Tifin is the latest startup feeling the bite of the bear market
Tifin founder and CEO Vinay Nair has laid off 10% of his employees, and asked nine members of the leadership team, including himself, to take a 20% pay cut (InvestmentNews)
How crypto lender Celsius overheated
Celsius Network has frozen withdrawals after using a myriad of failed DeFi strategies — and customers now fear they will never be able to access funds locked on the network (CoinDesk)
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