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Papa’s Brand New Bag: GoDaddy Unveils Small Business Payments Solution

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Domain registrar and web hosting giant GoDaddy is the latest technology company to unveil its own payment processing solution. Launched this week, GoDaddy Payments enables GoDaddy Websites + Marketing and Managed WordPress WooCommerce customers to conduct their commerce transactions directly via GoDaddy. The firm’s new payments capability comes courtesy of technology and talent gained from its acquisition of Poynt last December.

“GoDaddy is hyper focused on empowering our customers to sell everywhere with a single solution in a seamlessly intuitive experience,” GoDaddy President of Commerce Osama Bedier said. “GoDaddy Payments represents a major step towards centralizing every tool and service a business needs to successfully sell online. Customer feedback has been overwhelmingly positive, and we look forward to accelerating our efforts.”

Bedier founded Poynt in 2013 to reimagine payment terminals into smart, connected devices that power third-party apps and solutions. The company offered a range of point-of-sale hardware and software solutions to facilitate payments, including the its Android-based smart POS terminals and its PoyntOS-powered, third party-terminals. Before being acquired, Poynt handled more than $16 billion in gross merchandise volume a year for its 100,000+ merchant clients.

With more than 20 million customers on its platform, GoDaddy enables individuals and organizations to build professional websites that help them attract customers, and sell their products and services. The company’s new payments offering will give GoDaddy’s ecommerce customers a fast and secure way to manage orders, payments, and refunds. The solution also leverages a single intuitive dashboard that enables customers to manage their payments operations alongside the rest of their other business operations. GoDaddy Payments accepts all major credit and debit cards including Visa, Mastercard, American Express, and Discover, and the company added that GoDaddy Payments would be available for use for in-person, offline shopping later this year, as well.

Headquartered in Scottsdale, Arizona, GoDaddy is a public company with a market capitalization of $14 billion. It trades on the New York Stock Exchange under the ticker GDDY.


Photo by Johan Pérez from Pexels

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Source: https://finovate.com/papas-brand-new-bag-godaddy-unveils-small-business-payments-solution/

Aviation

Hilton Grand Vacations’ Timeshare Test and 9 Other Top Travel Stories This Week

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Throughout the week we are posting original stories night and day covering news and travel trends, including the impact of coronavirus. Every weekend we will offer you a chance to read the most essential stories again in case you missed them earlier.

How Hilton Grand Vacations Digests a $1.4 Billion Takeover Will Test Hot Timeshare Market: The timeshare sector is underway with overdue change. Chasing changing traveler tastes, millennials, and eventually Gen Z buyers means pushing into cities and offering more flexibility.

United Airlines Eyes Blockbuster 2022 With Plans to Be Larger Than Pre-Pandemic: United has big aspirations for 2022 as the travel recovery continues to accelerate in the U.S. But very real concerns about the Delta variant and the broader recovery outside of the airline’s control could set those plans back.

Tripadvisor Plus Creates Less Friction and Lower Costs for Hotels: Adding channel managers to bypass global distribution systems Amadeus and Sabre isn’t a super-duper game-changer for Tripadvisor Plus, but less friction and lower fees can lead to greater traction.

Kayak Is Missing a Golden Opportunity With Its New Corporate Travel Platform:
In what could be the travel industry’s most drawn-out launch of a booking tool, the final version will appeal to many small companies — but it could have offered so much more.

Japan’s Tourism Reality From Olympics: Build It and Maybe They Will Come Later: The 2020 Tokyo Games will be a big financial hit for Japan’s tourism sector, but vaccines now under way plus pent-up demand and infrastructure boosts could make it come out of this tough stretch a winner — sooner than one might think.

Canada to Lift Restrictions for Fully Vaccinated U.S. Travelers From August 9: The decision by Canada to open its border to fully vaccinated U.S. visitors is a massive boost for the country’s economy. While businesses in Canada have lost billions of dollars due to the absence of U.S. customers, the reopening’s timing in early August allows them to salvage something from the summer.

Travel and Fintech Are Colliding in New Exciting Ways: Fintech is trending, and likewise for superapps in certain parts of the world. Getting into travel is too delicious to resist, but the world is not ending for incumbent travel competitors.

Hilton Sees Bigger Meetings and Events Role in All-Inclusive Resort Growth: All-inclusive resorts are always going to be dominated by leisure travel, but it’s a smart move by Hilton to position these properties for some level of corporate meetings and events. Leisure traveler tastes aren’t the only ones that changed over the span of the pandemic.

Why American Airlines Lags Delta and United on a Key Recovery Metric: American likes to tout its strengths from more flights and a broader domestic network when it talks about the recovery. But with higher costs than competitors, it will continue to lag its peers even as some forecast profits in the coming months.

Hopper Sells Travel But Its Fintech Hedging Drives the Growth: Hopper makes more money on add-on, fintech-oriented services than on selling travel — even the usually juicy hotel business. The business isn’t profitable but who cares when grabbing market share is on the agenda.

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Source: https://skift.com/2021/07/24/hilton-grand-vacations-takeover-and-9-other-top-travel-stories-this-week/

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Blockchain

How to solve the Bitcoin energy consumption problem

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How to solve the Bitcoin energy consumption problem

By NISCHAL SHETTY

Blockchain technology is redesigning the world order via its interlinked network of blocks, simplifying monetary transfers and transforming the financial space.

But its pros may be weighed down by the huge environmental cost that cryptocurrency mining incurs each year. Currently, Bitcoin mining alone is responsible for more than 0.5% of global energy consumption.

Bill Gates, in early March, criticized Bitcoin for being the most energy-consuming transaction method known ever to mankind. Since then the Twitterati have been abuzz about how cryptocurrency mining has been hogging down energy from the already limited available resources. Down from their reputation of being a panacea for every malady, Bitcoin and its accompanying blockchain technology are earning notoriety as NFTs (non-fungible tokens) powered by blockchain are steadily gaining traction in the digital scene. 

Recently, an NFT artwork by the digital artist Beeple was sold for US$69 million by Christie’s auction house as an NFT. Around the same time, French sculptor cum environmentalist Joanie Lemercier was horrified to learn that the sale of just six of his NFT artworks consumed energy equivalent to a total of two-year energy consumption of his studio.

Excessive energy consumption: hype or problem area?

Cryptocurrencies are created — or mined, in blockchain terminology — over a decentralized network of computers that validates payments between users and maintains a historical log of transactions. Almost all the cryptocurrencies use a proof-of-work consensus mechanism that requires the miners to solve difficult computational problems, thus consuming a lot of electricity. There are hundreds of thousands of such computers that mine such cryptocurrencies actively, and only 39% of them use renewable energy resources, according to a University of Cambridge report.

The environmental cost of the digital revolution far supersedes the current stats that convict Bitcoin and blockchain as the sole culprits of degrading environment. A single swipe of your debit card initiates a rally of transactions over a humongous but buried network of systems. Though the frequency of transactions in banks and financial institutions (500 billion per year)  is incomparable to that of the Bitcoin network (100 million), cryptocurrency mining isn’t inherently prone to leave a carbon footprint. 

We ought to know how climate change is a huge environmental issue being realized today by businesses and the masses alike. A 2019 study by Harvard Business Review found that the market for sustainable products was touted to grow 5.6 times faster than the other not such responsible products. Another study found 79% of the customers preferring socially and environmentally responsible products. With changing customer preference towards environment-friendly products, the crypto industry has to work towards more sustainable energy solutions as it nears mainstream adoption. Let us look at the solutions available to tame the cryptocurrency industry’s carbon footprint and excessive energy consumption.

Solutions within and without

Changing the way coins are mined

The proof-of-work consensus mechanism is averse to saving energy due to its insatiable and unending consumption issues. It is, therefore, pertinent to change the way coins are mined. Easier said than done. Attempts have been made to bring in more energy-efficient consensus mechanisms, like the proof of stake and proof of authority.

Proof of stake is a low-energy consuming consensus mechanism as it leverages the efficacy of coins itself in the network. A user who has locked his tokens can verify blocks; therefore, the need for intensive mining is eliminated. Ethereum founder Vitalik Buterin strongly believes that blockchains sharding based on proof-of-stake is “thousands of times more efficient.” 

A group of hackers created an eco-friendly network based on the same called the PIVX network. The network’s energy requirements can be sufficed by a single wind turbine alone!

A proof-of-authority consensus mechanism leverages the identity of the people being a reputation-based consensus system. It is one of the most efficient and eco-friendly consensuses that could replace the proof of work.

Finding alternative energy sources

Bitcoin mining currently consumes 69.85 TWh per year, which ismore than the energy consumed by Austria in a year. There is an urgent need to shift to alternative resources to cut on the carbon footprint. The shift to environmentally fit energy solutions is already visible. Some mining nodes now use hydropower Some mining businesses rely on gas leaks captured from oil fields. Others are increasingly exploring solar-powered machines to fuel their mining operations.

Countries that have a surplus of renewable energy sources can encourage miners by allowing subsidized rates and other such allowances. Companies can work on a more efficient and robust mining and grid infrastructure that can help miners store and channel energy flows.

Reducing crypto mining’s carbon footprint

Exploring the uses cases of blockchain further, Canadian business consultant, Magdalena Gronowska says: “Miners can provide grid balancing and flexible demand-response services and improve renewables integration.” Miners can support the community rather than draining it. The mining firms can take up reforestation programs and other sequestration programs to help improve the air quality. 

Mining rigs can utilize the heat from their units to warm houses in cold temperatures. Hotmine in Siberia is a fine example of the above application. Places like Iceland offer natural cooling to the Bitcoin mining rigs and also harvest hydropower and geothermal energy that further help make Bitcoin mining more green and clean.  

Environmental regulations

Government and policymakers around the world can put into force regulators and categorical bans for cryptocurrencies that flout the prescribed limits of CO2 emissions. For instance, Quebec has introduced a moratorium on new currency mining. The crypto industry, like other industries, could be brought within the ambit of corporate social responsibility (CSR) regulations that are becoming increasingly mandatory for business enterprises today. 

Development and environment protection have and will always be at loggerheads. What is essential is to find the middle path. Making mining more energy-efficient and switching to alternate modes of energy can go a long way in making it a carbon-neutral technology.

What is required to be told and understood is that Blockchain tech has been testing its limits ever since its inception. The crypto community is self-aware and thinking about how to tackle the energy consumption issue. Being a disruptor tech still in its nascent phase, it possesses the potential to rethink, revise and rework on its shortcomings. As the DigiEconomist founder Alex de Vries says, “Ideally, change comes from within.” The alternative currency and tech are sure to find an alternate solution soon. 

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Source: https://www.fintechnews.org/how-to-solve-the-bitcoin-energy-consumption-problem/

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Crowdfunding

French Spend Management Fintech Spendesk Acquires €100M in Capital via Series C led by General Atlantic

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France-based Spendesk, a spend management platform, has acquired €100 million in capital through a Series C round that was led by General Atlantic, an international growth equity company.

Spendesk offers finance professionals a software-as-a-services or SaaS spend management system for complete visibility and control on all company-related spending — with every purchase being easily trackable to an individual, a specific project, as well as a budget.

The Spendesk platform brings together payments, processes, and data, with digital and physical cards for workers, expense reimbursements, invoice management, automated spend approvals, as well as budgets.

Having recently doubled revenue, Spendesk’s client base has expanded to 3,000, and its employee headcount reached 300+ in the past year. The company revealed that it will be channeling the proceeds from the raise towards recruiting new talent and further develop its line of products.

Rodolphe Ardant, CEO at Spendesk, stated:

“In the past few years we have built the reference spend management solution for finance teams in Europe, which frees businesses and their people from administrative constraints of spending and managing money at work. While our solution is about empowering finance teams, we are actually delivering value to the entire business through the finance team.”

Spendesk was founded on the idea that “spending money at work is far too complicated and time consuming,” the company explained in a blog post.

The Fintech firm points out that it “actually slows businesses down and reduces output across the entire company.”

According to Spendesk, nowhere is this pain “felt more acutely than in finance teams, where you have talented, thoughtful experts with a real impact to make.” They also noted that there may be a lot of value that could be added to firms “if they weren’t spending weeks chasing receipts, reconciling payments, or manually updating budgets.”

The company further noted:

“So that’s the problem we’ve set out to solve at Spendesk: to create an all-in-one solution that liberates finance teams from the tedious tasks, and empowers them to focus on more impactful, strategic work.”

They added:

“We call this ‘spend management’ – a concept that aims to streamline every aspect of spending & managing money at work: expenses, card payments, and invoice processing, but also approval workflows and accounting automation. And while our solution is about empowering finance teams, we deliver value to the entire business through the finance team, with a simple solution that employees love to use.”

With Spendesk, non-finance workers can be empowered to take care of spending on their own, with all the guidance they require to make the right decisions. Managers are able to keep track of and control budgets “without hassle, and senior leadership has more visibility over cash flow and revenue.” Essentially, Spendesk helps “every employee focus on the work that matters most.”

The company also mentioned:

“We’ve certainly benefited from using Spendesk ourselves during this funding round. We could tell a very detailed data story about our business with very little effort.”

They also confirmed that their Series C round was led by global growth equity firm General Atlantic and they’re pleased to welcome back all of our previous investors, including Index Ventures and Eight Roads Ventures.

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Source: https://www.crowdfundinsider.com/2021/07/178221-french-spend-management-fintech-spendesk-acquires-e100m-in-capital-via-series-c-led-by-general-atlantic/

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Crowdfunding

Social Stock Market App Iris Raises Money on Republic

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Iris, the social stock market app that lets users invest with friends, is looking to raise up to $500,000 on Republic.

According to the offering page, Iris has set a funding goal target of between $25,000 and $500,000. As it stands today, Iris has raised over $226,000 from 376 individual investors. If you are investing in Iris you are receiving a Crowd Safe at a $20 million funding cap. That means you are receiving equity at a future date when the company achieves a certain trigger. The terms are available on the offering page. The Form C offering document may be viewed here.

Iris previously raised $650,000 from two VCs along with friends and family in a pre-seed round.

Iris looking to benefit from the rise of a new generation of investors that are comfortable with the digital landscape of social media. Iris connects with your brokerage, like Robinhood, TD Ameritrade, Fidelity and more. Schwab, Etrade, Coinbase, and others are in the queue.

Iris lets users connect their accounts, and automatically share their trades and portfolios with their friends facilitating collaboration and community. Iris notes that it shows holdings and trades in percentages but not dollar amounts – important if you do not want your mates to know how much (or how little) you actually hold. The advent of trading boards on Reddit etc. proves their is an interest in social investing.

Iris reports that its typical user is a GenZ  or Millennial, who “actively” trades. Since launch in 2020, Iris reports 47,000 users with approximately 11 thousand active each month.

If you are curious the App is avilable for download on both the Apple App Storea as well as Google Play.

Have a crowdfunding offering you’d like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

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Source: https://www.crowdfundinsider.com/2021/07/178247-social-stock-market-app-iris-raises-money-on-republic/

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