Today in the Connected Economy: Netflix Names Microsoft as Its Advertising Tech Partner

Today in the connected economy, Netflix takes a step closer to its ad-supported version via a new partnership with Microsoft. Also, two major global regulators issue their guidance on applying financial market infrastructure rules to stablecoins, and Sunoco teams up with fleet payments platform Car IQ.

Microsoft to Help Launch Ad-Supported Netflix

Netflix has named Microsoft as its advertising technology and sales partner as it prepares to launch its lower-cost ad-supported subscription plan.

“Microsoft has the proven ability to support all our advertising needs as we work together to build a new ad-supported offering,” Netflix said on its website. “More importantly, Microsoft offered the flexibility to innovate over time on both the technology and sales side, as well as strong privacy protections for our members.”

The streaming giant first announced the ad-supported version of its service in the wake of a disappointing earnings report in April.

Sunoco to Accept Car IQ Fleet Payment Solution

Sunoco has formed a partnership with fleet payment solutions platform Car IQ that allows for secure fuel payments without a physical credit card.

The program will be launched at almost 5,000 Sunoco locations across the U.S. by the end of the summer. Drivers using Car IQ Pay just need to enter the pump number, top up their fuel and drive away, with the vehicle communicating directly with the Sunoco pump.

“Sunoco gives our fleet customers more choice when it comes to purchasing fuel,” said Matt Nicholson, senior vice president of merchant commercialization at Car IQ. “Vehicle-based payments solutions are reshaping how companies manage their business operations by tying vehicle data directly to the transaction and allowing the car to connect directly to the pump, giving fleet manager.”

Global Regulators Call for Interoperable Stablecoins, CBDCs

The Bank for International Settlements and the International Organization of Securities Commissions have published their guidance on applying financial market infrastructure rules to stablecoins and the entities that provide them.

The groups’ key message is that when a stablecoin grows to a certain size, it must adhere to the same safeguard rules as any other form of payments. As the regulators noted, the guidance is a step towards applying “same risk, same regulation” to stablecoins, and includes international standards for payments, clearing and settlement systems that cover the major stablecoins.

Transact Campus Acquires Mobile Ordering Platform Hangry

Transact Campus, a payments company geared towards colleges and their students, has purchased Hangry, a Canadian mobile ordering company. While Transact did not release the financial terms of the deal, it said acquisition is part of its larger plan for growth.

Hangry’s platform is “built to serve the specific needs of the campus ecosystem and is fully integrated with the Transact platform,” Transact said in a news release. The company said it has processed 24 million mobile order transactions that total more than $200 million using the Hangry solution.

Lightspeed Streamlines Payments Processing for Golf Industry

Point of sale and eCommerce software firm Lightspeed Commerce has debuted an expanded version of its payments processing solution aimed at the golf industry.

Lightspeed Payments for Golf streamlines payments for merchants and customers. The firm said that by integrating with Lightspeed, merchants gain expanded insights into the details of their business in addition to what their customers are buying, when they’re buying it and what payment method they’re using.