If you don’t believe in the potential of the digital revolution in the financial market, you definitely haven’t kept up with the latest news.
At the beginning of the week, our bet was on the surprising element of upcoming news concerning the Q2 results scheduled to be released during this week. In fact, we had some surprising ups and downs on the global tech market, but the wave of financial products was the biggest surprise.
The payments industry is developing at a fast pace, and heavyweight companies of several segments are fighting to take a bite out of this market. Cash payments are still king in Latin America, but for the first time, we have consistent signs and market movements that point to the fact that his reign was never so close to the end.
Which brands will create financial products that will be really successful is still up in the air, but you already know the last two big players to enter this game.
This and more on LABS+1, check out:
4. Spotify keeps routing Apple Music: The music streaming platform’s subscribers increased by 31% last quarter
Spotify has a lot to celebrate and less to be worried about, at least for now. The music streaming platform reached 108 million paid subscribers by the end of the last quarter, growing by 31% and staying well ahead of their main competitor, Apple Music, which achieved 60 million subscribers in the same period.
Regarding the users from the free Spotify’s version with advertising, the Swedish music streaming platform rose 29% and reached a total audience of 232 million. The Apple product doesn’t offer a free version, but even so, they won the US market, meanwhile Spotify is dominating other regions, especially the emerging markets.
3. The ride-hailing service Cabify plans to enter the fintech market in Brazil
Present in almost 50 cities across Brazil, Cabify is a subsidiary of the holding company Maxi Mobility, which has also the digital wallet Lana in its portfolio. And as the fintech landscape in Brazil rises, the holding’s e-wallet is seeking to surf this wave. At the moment, Lana is working in Mexico and Chile in a pilot-test operation, available for around 1,000 Cabify drivers and letting them receive payment through the digital wallet, pay basic bills, ask for loans, and other related services.
While Lana is operating on its own in Mexico and Chile, the strategy in the Brazilian market will be to seek for partnership. “Due to the size of the market, we believe it makes more sense to partner with local businesses,” said the founder Juan de Antonio to Brazilian media outlet Valor Econômico.
2. Globo Group enters the card machines market by starting a partnership with the fintech, Stone
An unlikely partnership at first glance, but also a stroke of genius. The Brazilian Globo Group, the biggest group of media and communication in Latin America, is joining forces with the fintech that already counts with Warren Buffet among their shareholders, Stone. The goal is to enter the competitive Brazilian financial market by using a credit card machine product.
The Globo Group will have 33% of the joint venture with Stone, and to make it happen each company will be focused on their corresponding area of expertise. Meanwhile, Stone will lead all the development and operations of the card machines, Globo will invest BRL 461 million in media on their own channels to promote the new product in the market, focusing on small entrepreneurs and freelance professionals.
1. UseGiraffe: The brand that is reinventing China’s cross-border e-commerce
The second episode of Latin America’s Trailblazers is live, presenting UseGiraffe’s story!
And while many people might find the mission of improving Brazilians’ access to Chinese products impossible, UseGiraffe proves otherwise. The company has invested in a business model poised to become sustainable in emerging markets such as Brazil, and that’s why the brand is going further than just selling third-party products to create their own brand.
A lesson about finding opportunities and being one step ahead of the competition. This is UseGiraffe’s story, check it out the full article!
LABS +1: Fast and Furious is back
If you are an action movie fan, you have much to look forward to this weekend. Fast & Furious Presents: Hobbs & Shaw, the spin-off of the famous series arrives today to the Brazilians’ movies with The Rock and Jason Statham as the big stars, but the great promise is the performance by Vanessa Kirby, pointed out by international critics as responsible of stealing the show.
According to Forbes, it is expected that the movie will be the only blockbuster of 2019 that isn’t a Disney production, and with such great expectations, Fast and Furious is definitely worth of your weekend time.