News digest 06.03.2023
Brankas launches Asia Pacific's first multi-bank API for instant account opening
Open finance leader Brankas has announced a new feature enabling instant bank account opening as an “embedded finance” experience on third-party applications. The API is the first of its kind in the region, launched first in Indonesia and the Philippines. As a bundle with Brankas’ market-leading data and payment solutions, any merchant or consumer app can provide fintech experiences to its users.
iLottery and online sports betting solution is launched in Brazil
iGaming brands looking for a new market should set their sights on Brazil. The market has finally opened up a little with the launch of LotoMinas, the first regulated ilottery and online sports betting solution for Brazilian state Minas Gerais’ official lottery, Loteria Mineira. A product of NeoGames and Intralot, LotoMinas offers a digital solution that will be built on top of the existing retail lottery regulations.
Instagram starts testing its age verification tools in more countries
Meta announced today that it has started testing its age verification tools on Instagram in more countries, including Canada and Mexico. Last June, the social media app began testing new options for users to verify their age using one of three options: uploading their ID, recording a video selfie or asking mutual friends to verify their age. If a user attempted to edit their date of birth on Instagram from under the age of 18 to 18 or over, the app would require them to verify their age using one of the three methods.
Pinterest is testing a new premium video ad format on its app’s search tab
Pinterest has begun alpha testing a new advertising product that allows brands to reach consumers from a more prominent position within the company’s mobile app. With the “Premiere Spotlight” ad, as the new format is currently being called, advertisers will gain access to a premium placement for 24 hours on the Pinterest app’s search page. This allows them to reach Pinterest users as they use one of the app’s key features — the ability to search for pins, inspiration and ideas.
TikTok owner ByteDance has quietly launched a new app, Lemon8
TikTok parent company ByteDance launched Lemon8 in the U.S. and U.K., an app that’s a lot like the Chinese social shopping app Xiaoghongshu (Little Red Book). Like TikTok, the app has a Following and For You feed, but is described more as a lifestyle community. The company has been paying creators in the U.K. to post on the app.
Indian fintech CRED adds buy now, pay later, and tap to pay offerings
CRED is rolling out a buy now and pay later service and a tap to pay feature as the Indian fintech platform broadens its offerings to boost engagement and monetization on the platform. Cred flash, the Bengaluru-headquartered startup’s foray into the buy now and pay later category, will allow customers to make seamless payments on the app and across more than 500 partner merchants, including Swiggy, Zepto and Urban Company and clear the bill at no charge in 30 days.