Welcome to this edition of the RoundUp. Highlight in this edition is the Paystack’s Commerce feature; the opportunities and costs it will save small businesses going forward is one to imagine. Thanks for reading and recommending the RoundUp. We appreciate you.
- Nigeria’s leading payment processor Paystack, has launched its Commerce service. Commerce externalizes costs on marketing and logistics for small businesses. According to Paystack ‘It’s an addition to our family of solutions, joining tools for Collections, Disbursements, Identity Verification, and Reporting.’ Small businesses can now customize their URL and brand colours while at the same time, managing delivery fees and accompanying details. Link
Why this is Important: For small businesses, this is a relief. They can now focus on managing customers and replenishing inventory. We would see concerted efforts by other marketplaces like Flutterwave’s Store and the rest adjust to the threat of this new entrant with enticing value propositions. For the tax authorities, this is an opportunity to have SMEs step closer into the tax net. Another upside is the data capture towards having a fair idea of SMEs in Nigeria and their customers’ spending patterns.
- Apple has for the first time in over a decade dumped the use of Intel chips in productions.This move has been in the works since 2008. Link
Why this is Important: This is a long and strategic move by Apple to bring its productions in-house. It is a risk-mitigating measure to untangle itself externally. For Intel, despite its chip transactions with Apple making up less than 5% of its revenue, this is a signal to either increase its offering to current customers or grow other verticals. For other Intel customers, Apple’s ability to pull this off could be a catalyst to leave the Intel fold and take it all in-house.
- Amazon Web Service has announced HoneyCode, a service that allows you to build powerful mobile and web applications without writing lines of code. According to AWS Chief Evangelist, ‘It uses the familiar spreadsheet model and lets you get started in minutes. If you or your teammates are already familiar with spreadsheets and formulas, you’ll be happy to hear that just about everything you know about sheets, tables, values, and formulas still applies.’ Link
Why this is Important: Adding this to its Cloud offering is a good move. Amazon can now plug itself in the journey of its Cloud customers very early. By first eliminating costs associated with buying and managing servers, Amazon is about to eliminate costs associated with entry and mid-level software development for businesses. Developers may now need to upskill in future to stay relevant.
- It is rumoured that Paypal would soon permit cryptocurrency exchange on its platform. Although this has not been denied nor affirmed so far by PayPal executives. Link
Why this is Important: Since it left the Libra alliance by Facebook, this could be an attempt at being ready for a relaxed regulatory environment for cryptocurrency in readiness for full adoption.
- Deep-pocketed advertisers are suspending their ad spends within a given a period and some, indefinitely. A list which includes Unilever, Starbucks, Pepsi, Coca-Cola and Diageo has left shares tumbling. These suspensions are reactions to Facebook’s reluctance to decisively deal with racist posts on its platform. Link
Why this is Important: This is revealing another veritable tool to get Big Tech to shape up beyond deleting apps and boycott. The ripple effects may see other companies follow suit in solidarity with the big ones. For Facebook as a company, when this ends, it would look inward to find other reliable sources of revenue within its control beyond advertising.
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