ISSUE NO. 77 – May 2020
Figg Uses CLO to Help Consumers Brave Recession
Augeo, a St. Paul digital engagement company and card-linked technology provider to banks, announced it has acquired Empyr, the San Diego-based company that powers the Yelp card-linked offer program, among other leading publisher platforms. The two Cardlinx members will do business as Figg, with more than 60 million linked cards and $300 billion in transaction volume.
CardLinx Insight
The deal signals CLOs’ coming of age as a key digital engagement technology. Figg will be a powerhouse in card linking, signaling CLO is no longer just a platform for new customer acquisition, but a driver of repeat visits. The companies have come together at an opportune time. Now more than ever consumers are looking for value, i.e. to save or be rewarded with loyalty points. Combining advanced technology and compelling offers, Figg will play an important role in rebuilding confidence and easing economic uncertainty in trying times.
World Enters Phase 2 of Commerce Recovery
Despite ongoing health risks, the pressure to ease restrictions brought on by the coronavirus is mounting. As municipalities, states and countries have gradually allowed stores, restaurants, factories and other businesses to reopen, economic pain is easing and unemployment claims are down.
CardLinx Insight:
It’s official: In the past two weeks most US states and European countries have officially passed Pandemic Phase 1 (Crisis) and entered Phase 2 (Recovery). The CardLinx Commerce Tracker shows more than half of the top 20 economies around the world turning from red to yellow, indicating some economic activities have been restored.
Plaid Sued In Class Action Over Data Privacy
Plaid, the company acquired by Visa for $5.3 billion, was sued in a class action alleging it harvested consumer transaction data without permission. The lawsuit states “Plaid uses that access to deceptively obtain bank account information from users, accessing information back up to five years, averaging 3,700 transactions per consumer.”
CardLinx Insight:
The lawsuit alleges a fear many consumers have: That their data is being secretly harvested by digital platforms. The CardLinx Association is a leading proponent of improved trust and security in our industry, and recently published a set of data principles that help ensure consumers have full transparency and control over their financial information.
Mastercard Insights on 2020 - The Year of New Ways to Pay
Insights on 2020 – The Year of New Ways to Pay
We are bringing their insights from around the world straight to you in an informative new podcast called Fin-Tech Friday. The podcast features insights, interviews and the latest news from CardLinx members around the world. Stay connected and subscribe to CardLinx Fin-Tech Friday.
Member Updates
New Member: Dosh
We welcome Dosh to the CardLinx Association! Dosh is built on the vision to democratize advertising for the benefit of people everywhere and a mission to positively impact people’s lives by moving billions of dollars to millions of people. They have built a leading frictionless card-linked offer platform where more than 10,000 brands and retailers provide cash back to more than 57 million consumers when they shop, dine or book hotels, instead of spending that money on inefficient advertising. For more information, please visit: dosh.cash
Upcoming CardLinx Conferences
CARDLINX EUROPE
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CARDLINX WEST
NEW DIGITAL SERVICES
CardLinx Commerce Tracker
The CardLinx Association brings to you an interactive world map that tracks the top 20 national economies of the world. Stay up to date with the constantly changing restrictions and reopenings of economic activity related to Covid 19. Find out which of the top world economies are open for business with the CardLinx Commerce Tracker.
CardLinx Webinar Series
- How to engage consumers on mobile
- How to position your brand as front of mind and top of wallet
- How to drive increased sales for your goods and services on online and on mobile
Each month, The CardLinx Association hosts a live, interactive webinar with speakers from some of the biggest companies in the world on the most important and relevant topics for your business. Topics include impacts of COVID19 on the industry in terms of consumer credit behavior, mobile wallets, card companies and lenders. The webinars are complimentary for all CardLinx members. Non-members must pay a registration fee of $149. Register today as space for each webinar is limited!
Please contact [email protected] with questions or if you need additional information.