Walmart Metaverse expansion includes concert series


Today in the Connected Economy, Walmart announced that it is getting into the gig business by hosting a music festival in its new metaverse space.

Additionally, Mastercard is partnering with fraud prevention company Ravelin to provide faster, more secure commerce, and Spotify is acquiring Kinzen to improve its harmful speech detection efforts.

Walmart is hosting a Roblox concert as part of the Metaverse expansion

Walmart continues its excursions into the metaverse with “Electric Fest,” a virtual event that the retail giant says is inspired by “the world’s greatest music festivals.”

Kicking off this weekend, the event comes shortly after the retail giant announced that it had implemented two new spaces in Roblox, a non-blockchain metaverse game that boasts 52 million users. daily assets.

“For the first time on Roblox, Walmart will host a music festival experience featuring three of the world’s top musicians, Madison Beer, Kane Brown and YUNGBLUD, to give users an immersive concert experience from the comfort of home” , the company said. in a press release.

Mastercard partners with Ravelin to rapidly reduce commercial fraud

Ravelin, a company that uses machine learning to prevent and detect fraud, has partnered with Mastercard to offer an enhanced solution that incorporates digital identity verification capabilities to enable fast and secure commerce.

Ravelin will employ Ekata to verify digital identities and Ethoca to analyze real-time fraud insights to help merchants streamline consumer identity validation with less friction, the company said in a statement. Press.

“We all want secure and seamless experiences,” said Chris Reid, executive vice president of identity solutions at Mastercard.

Spotify plans to tackle hate speech with purchase of Kinzen

Spotify has bought Kinzen, an Irish content moderation company, the audio streaming service has announced as it attempts to tackle hate speech on its platform.

“Kinzen’s advanced technology and deep expertise will help us more effectively deliver a safe and enjoyable experience on our platform worldwide,” the company said in a press release.

Terms of the agreement were not released. Spotify said it has worked with Kinzen since 2020, noting that the Dublin-based company’s technology is particularly suited to the podcasting and audio formats offered by Spotify.

Tink’s Expanded Partnership Brings Open Banking Payments to Adyen

Open banking platform Tink works with global payments company Adyen to offer customers instant account-to-account payments.

“Open banking payments are rapidly becoming mainstream as businesses look for easier and more cost-effective ways to accept payments,” Tink said in a blog post.

The company is launching account-to-account payments in the UK, but plans to expand into new markets next year, calling the new product “pay-by-bank”.

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

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