Samaky PLC

ApplePay is a work of Art that enables online and in-store transactions, but how? 👇

In this specific payment scenario, ApplePay uses to send payment data to the contactless POS terminal with its Tap & Pay feature.

🔸At checkout, a consumer chooses ApplePay to purchase a good or service. First, they need to themselves to the IPhone Secure Element (SE) using Biometrics (Fingerprint, Face ID or PIN).

🔸Once authentificated, the Secure Element generates a , combination of Payment Token, Transaction Amount, Transaction Counter etc and a . The Secure Element passes the Payment Token (DAN), Dynamic Cryptogram and Dynamic CVV alongside other information to the POS Terminal via NFC.

🔸 The POS sends this request to the Bank (Merchant Bank, Nuvei, Stripe…) which in turn forwards it to the Payment Network i.e. Visa, Mastercard etc.

🔸The Payment Network (also called Card Network) identifies the specific Payment Token and passes it and the Dynamic Cryptogram to the Token Service Provider ( ) to obtain a Payment Card Number ( ).

🔸The Token Service Provider receives the Payment Token ( ) and the Dynamic Cryptogram. After verification, it returns a real PAN to the Payment Network.

🔸The Payment Network passes the PAN along with the transaction details and CVV to the Bank - Wells Fargo, Bank of America for authorization.

🔸The Issuer validates the request by deciphering the Dynamic CVV using its private key to check the credit balance against the transaction amount.

🔸If authorized, the Issuer Bank passes back the authorization response to the Payment Network, back to the Acquirer and finally the POS system of the Merchant ✅

This happens lightning fast ⚡️and with extreme convenience. Apple built its payment ecosystem with Apple Card, Apple Cash, ApplePay Later and various other services like In-app payments to achieve a seamless User Experience ( ) to both the Merchant and Consumer.

SuperApp

The FTX story keeps getting crazier every day 🤯

Here are 6 shocking new details that just came out👇🏼

(1) Sam Bankman-Fried’s (SBF) parents own a $16.4 million vacation home in the Bahamas🇧🇸. They are both successful professors at Stanford but the average total pay there is around $185,000 per year. It’s hard to imagine they didn’t get some help from their former billionaire son in affording such a home 👀

(2) One home clearly wasn’t enough as SBF’s parents purchased 19 properties worth at least $121 million in the Bahamas over the past two years. Effective Altruism at its finest? 🤔

(3) FTX and Alameda Research lost $3.7 billion before 2022. The fact they lost staggering amounts of money even during the bull market destroys the image SBF was a genius and that his companies were highly profitable. In reality, they were losing lots of money while likely funding everything with new customer deposits 💸

(4) Digital asset brokerage Genesis received over $1 billion from Alameda and FTX in the last 3 months. All in FTT, FTX native token 🤡 The company is now trying to secure new capital and warns of bankruptcy without new funding. This could cause ripple effects on the whole industry 🌪

(5) Sports stars Tom Brady and Steph Curry are being investigated for promoting FTX 🚨

(6) US prosecutors opened a secret probe of FTX months before its collapse. It’s yet unclear why nothing has been done to prevent the crash 💥

This seems to never end and the rabbit hole just keeps getting deeper and deeper on the FTX mess.

The worst part is that the damage in investor confidence that SBF and FTX have created will cost trillions.

What do WeChat – China’s dominant SuperApp – and Twitter have in common?
What do WeChat – China’s dominant SuperApp – and Twitter have in common? Apart from a messaging functionality and sharing headlines lately not much. Let’s take a look.

Since Elon Musk’s recent acquisition of Twitter for $44 billion, there is no day that goes by without a different analysis of how Twitter can become an "everything app" or the WeChat of the west.

The term SuperApp goes back in 2010 when BlackBerry’s founder, Mike Lazaridis, coined it to describe an “ecosystem of apps that customers could use as a part of their life thanks to the seamless, integrated, and efficient experience”. Nowhere has this definition found more success than in Asia, where the likes of WeChat Pay and Alipay – the mobile wallets of Chinese BigTechs Tencent and Alibaba, respectively – have expanded to include all kinds of services from to money transfer to food ordering to taxi hailing to credit, taxes, and much more.

In the meantime, in the west a number of players – from Paypal, Revolut, Apple or Square – have been laying the ground for becoming a SuperApp, however none is anywhere near a WeChat model and chances are that this will not happen, at least in the way and to the extent that some have proclaimed. The reasons are diverse:

— China’s inexistence of a payments’ (it never developed the robust credit and debit card networks that are the backbone of cashless payments in and North America) together with lax regulation at the early 2000s and a huge unbanked population that was looking for ways to buy things, laid the ground for payments and messaging apps becoming all-encompassing SuperApps

— Many Chinese people have come to know the internet through WeChat and other SuperApps and for many still up to today their SuperApp is the equivalent of the internet

— WeChat isn’t just a single messaging app. Without it, life in China is almost impossible. People in the west with tens of different apps on their phones cannot understand the reality of just one app with dozens of submasks

— Consumers in the west have long-standing relationships with banks and brands that are difficult to be replaced by a single app

— privacy and security concerns as well as anti-trust policies in the west, present a structural antithesis to the model in

At the end of the day, the real challenge for any aspirant western SuperApp is the creation of an ecosystem – as opposed to providing mere access to an array of different services – with seamless, integrated, end-to-end experience across all aspects of modern life. However even if this succeeds, the closed-loop, walled garden approach that the model implies will probably prove a difficult fit for western consumers used to choice. SuperApps will inevitably come to the west as well, but they will not be the same as WeChat.

Opinions: Panagioti, Graphic source: Matthew Brennan
SuperApp for Digital Business

[Market Understanding] by Le Quang Hiep

☆ Consumer Insight: Types of Customer Psychology

In business, it is necessary to see the psychology of customers, to influence perception, and lead beneficial behavior for the brand: purchase, download the App, spend money in the App, upgrade to the Premium package, etc. In fact, there are 5 types of Psychology, different in nature, role as well as ability to create impact.

1. Category Insight: Reflects the point of view of brand experience, or product groups in that category.

❖ For example, the opinion of customers who do not want to buy mouthwash is “it is not necessary, brushing is enough”, “expensive compared to the feature of simply being more fragrant, the cooler than brushing”. ; The point of view of the workers about energy drinks is to "recover their strength so that they can continue working to support their families".

Understanding Category Insight helps to gain insight into customers' views & behaviors in the industry, especially explaining psychological barriers in industries with low pe*******on rates.

2. Related to product experience (Product Insight): reflects views & needs during the experience of a particular product, in terms of features, benefits, design, design, quality. .

❖ For example, the view after experiencing the Vision car is compact, elegant, can wriggle easily in urban areas with narrow roads, a deep trunk can hold many basic items such as raincoats, sun skirts, bags. bag, file holder, glasses.

Understanding Product Insight helps to see the strengths & weaknesses of our product compared to the competition.

3. Relating to the shopping experience (Shopper Insight): reflects the behavior and needs in the shopping process at an intermediary retail store, or showroom or private store.

❖ For example, the behavior of reading the information on the packaging reflects the concern about the product, standing hesitantly in front of the instant noodles promotion shelf reflects the mentality of "should I buy it, the promotion is so attractive, stay at home instant noodles not ta”.

Understanding Shopper Insight helps build a better shopping experience & organize the right retail activities to influence buying behavior such as beautiful mannequins, colorful candy booth displays , at a low level to attract children, let them ask their mother to buy, etc.

4. Related to the experience of surfing social channels & watching ads (Media Insight): reflecting tastes about the types of content or reading and watching on what channels, at what time.

❖ For example, surf Tiktok with your hands free for a short time, surf Lazada when you have free time at lunch break, ask colleagues to order milk tea at 3pm on Baemin, search for information about traveling, hunting plane tickets before the long holiday.

Understanding Media Insight helps to orientate on the type of content, broadcast on the Media channel at the right time, connect to make programs on suitable partner apps for the target audience.

5. Psychology is exploited to build Creative Communication Topics (Communication Insight): this is an important type of psychology that the Brand Team decides to choose from any type of Insight to build a Communication Theme, Since then, it has developed into an engaging story with a lot of complementary content, and then broadcasted on multiple channels.

❖ For example, Ice Cream Wall's exploits Insight related to the feelings of young couples "to show love by sharing", to build the theme "Delicious, dew, bear love", to facilitate sharing. ice cream cones become reasonable & create cohesion for young couples (one bite each, both delicious and fun). 🥰🥰🥰

The bond between Web3 and blockchain

Web3 networks will function only by employing decentralized protocols like blockchain, smart contracts, cryptocurrency, the Internet of Things, and DApps. Hence, we expect a significant symbiotic relationship between Web3 and these protocols. Furthermore, smart contracts will make them automatic, compatible, and able to integrate with other industries.

Web3 technologies will guarantee the functioning of mainly all processes, starting with microtransactions and censor-free information storing to total management changes on all entrepreneurship levels. Shortly, Web3 and blockchain pairs will become a new source of power.

Here are the prime Web3 and blockchain combination solutions:

Decentralization: storing data in a blockchain. Web3 solutions store data in a blockchain. It grants access from any device. One does not need intermediaries for specific tasks since computers process everything in a decentralized way.

Autonomy: self-executing smart contracts. Web3 application can establish the action algorithms and self-execute them; thus, it lowers the need for banks, attorneys, government, or other intermediaries.

Censoring resistance: content cannot be deleted. Everything written in Web 3.0 can’t be deleted or stopped by any party, making it a more reliable environment for users who want to share their data without fear of losing control.

Secure messaging: messages cannot be hacked. The concept provides secure messaging through blockchain; hence, the users shall not worry that cybercriminals can steal their conversation or essential information.

Fraud protection: the transaction can’t be falsified. The other benefit of Web3 is that third parties can’t alter the transactions, which makes Web3 solutions more secure.

It does not require permission: access cannot be limited. Web3 solutions are independent since smart contracts automatically execute the transactions. In other words, you do not need to pay significant money to access the required services.

Cre: meethead