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Miami Art Week usually exists behind invisible velvet ropes. It is a place where private dinners, celebrity walkthroughs, and invitation-only installations dominate the social landscape. But this past week, Capital One tried something unusual. It opened one of Art Weeks most insular cultural moments to people who are not part of the traditional art world by giving its cardholders access to the kind of programming that normally requires a personal invitation, using Art Week not simply as a cultural stage but as a strategic laboratory for understanding what premium consumers now expect from financial brands. The brand’s presence featured a collaboration with artist Alex Prager and global arts agency The Cultivist, centered on Mirage Factory, a cinematic installation that functioned as both an artwork and an access vehicle. The activation also included a performance by Diana Ross, a signal of the caliber of entertainment Capital One was willing to attach to its premium ecosystem. Taken together, these elements demonstrated how the brand is positioning itself inside a broader evolution of the credit card rewards market. Once defined primarily by points, cashback, and lounge access, the premium category has shifted toward cultural relevance and emotional differentiation, especially among younger affluent customers. Capital One presented the activation as an example of what premium now means in a market where loyalty is shaped not only by earn rates, but by identity, affiliation, and what a customer feels their card allows them to experience. Turning a cultural moment into a loyalty engine Prager describes Mirage Factory as an immersive reflection of Los Angeles mythology and the machinery of Hollywood dreams. “The Mirage Factory allows visitors to escape into the dreamlike world of Los Angeles, to experience a heightened, fabricated vision that celebrates the artifice of the city and the dreams that built it” Prager explains. “It evokes the spirit of Golden Age Hollywood, a cinematic fantasy of nostalgia, glamour, and illusion.” The installation was open to the public for a limited time, but the most valuable components were reserved for Capital One cardholders. Those included a multi course dinner staged inside the installation and a second evening of bespoke programming. For select attendees, the activation also included access to the Diana Ross performance, a tier of cultural exclusivity that has become increasingly common as credit card issuers compete through experiential differentiation. [Photo: Daniel Seung Lee, courtesy Capital One] From a business perspective, the shift reflects competitive dynamics that now extend far beyond traditional rewards. The premium card category has evolved into an arms race of cultural touchpoints. American Express, Chase, and Capital One are all investing in curated events, access-driven partnerships, and high-touch hospitality in an attempt to cultivate deeper emotional loyalty. In this context, a single moment like Mirage Factory becomes a test case for understanding what customers are willing to pay for and which experiences actually change brand perception. Lauren Liss, Capital One’s Senior Vice President of Premium Products and Experiences, noted that the companys premium portfolio is now its fastest growing segment, driven in part by demand for experiences that feel both elevated and low friction. She explained that Capital One evolved from a really small company that issued credit to customers overlooked by traditional banks to a firm that identified a gap in the market. There were premium credit cards that were out there, but a lot of folks were saying they weren’t for them. They wanted something that was simple, straightforward, easy to use, had the rewards, but also had things that were tailored to great experiences, she said. Both that value and the access. [Photo: Daniel Seung Lee, courtesy Capital One] The company now runs more than 300 branded experiences per year. Liss said the measure of success is straightforward. I’d say the best measurement is that our customers love it. The sellout rate is well over 90 percent, she said. Even if I’m not going now, it’s really cool that I have these types of options or offerings for the future. Why a financial brand is investing in art world authenticity For Capital One, credibility in cultural spaces depends on its partners. The Cultivist plays a central role in ensuring these activations feel artist-led rather than brand-driven. Cultivist cofounder Marlies Verhoeven Reijtenbagh said the firm began as a non-commercial art membership club and expanded into a consultancy that connects artists, institutions, and brands in ways that protect artistic integrity. We realized that a lot of brands wanted to work in the art world, and that we could help them do it in a way that felt very authentic, because we saw a lot of brand activations that maybe were a bit more pasted on, she said. Working with Capital One, she added, is structurally different from working with other financial firms because the company brings a unified internal strategy to the table. When I work with big brands, especially big corporate financials, it often feels like little fiefdoms that have their own individual goals, she said. This is very different. Authenticity is especially important because the credit card industry has entered a phase where premium customers judge brands as much by cultural fluency as financial benefits. Integrations that appear superficial can erode trust faster than a weak earn rate. But Capital Ones approach reflects an understanding that cultural participation must feel native, not opportunistic. The economics f premium dining inside a branded art experience Capital One also expanded its culinary strategy at Art Week. The exclusive dinner inside Mirage Factory was led by chef Dave Beran, whose Michelin-starred restaurants are known for narrative-driven menus. [Photo: Daniel Seung Lee, courtesy Capital One] High-touch experiences like this operate at the top of what Capital One executives describe as an access pyramid. Some events serve thousands of cardholders through presales or reserved ticket inventory. Others, like the Mirage Factory dinner, serve a few dozen. Both are strategically important, but they generate value in different ways. Monica Weaver, Head of Branded Card Partnerships and Experiences, said the system is designed to give customers multiple pathways into the cultural sphere. We think about it in this pyramid where there are certain events that are bucket list, and those are fewer. Then there are exclusive experiences, and then there is a broader tier which is reserved access to certain things, she said. Capital One has built out these layers through Capital One Entertainment, which blends proprietary events with the full Vivid Seats inventory. Customers redeem rewards for both bucket list and everyday experiences. This reflects a broader shift in rewards behavior. Points are no longer perceived as a savings mechanism. They function as a form of stored access, a currency customers convert into identity-defining moments. Expanding influence beyond the gallery walls This year, the company also extended its Art Week presence into The Shelborne By Proper, a historic Art Deco hotel that became a branded retreat for Venture X and Venture X Business cardholders. Through the Premier Collection, stays included breakfast credits, upgrades when available, and property-wide programming tied to the Mirage Factory concept. There were daily Golden Hour gatherings, wellness events, and nightly sound sessions. The programming allowed Capital One to shape not just a single event but the full customer journey across the Art Week environment. In premium banking, this kind of journey-mapping is becoming a central competitive tool. Every moment becomes a data point in understanding what customers value. Weaver framed the partnership as a broader strategic move. Our partnership with The Cultivist and debut of Alex Pragers Mirage Factory redefines what immersive premium access means at Art Week in Miami, she said. Ami Vedak, who leads Small Business Acquisitions for Business Cards and Payments, added that the events resonated strongly with small business owners, many of whom view premium card perks as tools for client entertainment and business growth. You hear about Art Week in Miami a lot. It is in the press a lot. Even me as a regular person, I did not necessarily know how to access it, she said. Small business owners are people too. They want opportunities to immerse themselves in art and culture. A financial company positioning itself as a culture brand Capital Ones activation fits a broader industry trend, in which financial institutions compete for high-value customers by offering cultural access that cannot be replicated by earn rates alone. In that landscape, a Diana Ross performance, an immersive art environment, and a curated hotel program are not aesthetic add-ons. They are strategic assets in a loyalty economy where emotional differentiation drives retention. For a brief moment, the boundaries around one of the most exclusive weeks in American culture shifted. Access depended not on a relationship with a gallery, but on whether a visitor carried a specific card. For Capital One, that shift was less about a single week, and more about building a long-term competitive strategy rooted in cultural relevance rather than commodity rewards.
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E-Commerce
For global companies, Africas promise has long been tempered by a persistent operational myth: that the continent is not ready for complex business. The reality is different, however. The barrier isn’t a lack of demand, but the inability of traditional global systems to handle Africas unique financial landscape. Nearly 400 million African adults remain on the fringes of the formal financial system, yet digital adoption is exploding. The conversation has decisively shifted from basic financial access to a more critical question: How can multinationals efficiently manage their core operations like paying suppliers, collecting revenue, and moving money across borders, in such a complex environment? WHY AFRICAN FINTECH IS THE SOLUTION Global payment giants are built for standardized, mature markets. African fintech companies have grown from basic payment services into essential partners. Their key strength is building the specialized digital backbone that businesses need to operate. The most important work of African fintech isn’t consumer-facing. Today, it’s happening behind the scenes, where it solves two fundamental problems at once: domestic fragmentation and global isolation. Internally, their platforms help large companies easily pay hundreds of suppliers across different African countries at once, in local currencies. Externally, they are building the rails for African businesses to trade with the world. For instance, they provide a secure infrastructure for African merchants to pay or receive payments from a partner in East Asia. This dual capability avoids the delays, high fees, and headaches of old systems, keeping supply chains running smooth. African fintech systems are crucial for global money transfer companies, allowing them to send payments directly to people anywhere, even remote areas, not just major cities. This same technology is also built into key industries like agriculture and logistics. It provides instant payments to farmers and handles complex freight payments, solving critical cash flow problems for businesses. This is not e-commerce, this is the essential financial plumbing for Africa’s real economy. The role of regulators has also evolved. Its no longer just about enabling data sharing. Progressive regulators are now collaborating with fintechs to design cross-border payment frameworks and digital identity systems that secure high-value B2B transactions. This proactive engagement is creating a more stable and predictable environment for large-scale investment. Similarly, deep integration with telcos goes beyond consumer mobile money. It’s about leveraging vast agent networks and mobile penetration to create secure, corporate-grade channels for business operations, from distributing payroll to settling invoices with small-scale retailers. The data underscores this shift. According to the GSMA’s 2025 report, Africa processed $1.1 trillion in mobile money value in 2024, accounting for 66% of the global total. Digital payments in Africa are growing rapidly, with transaction values expected to continue their strong upward trajectory. But the real story is in the nature of these transactions: Increasingly, they are sophisticated, high-value B2B flows. Multinationals must now strategically partner with African fintechs to succeed. This is crucial for their proven pan-African networks and deep understanding of local rules and markets. The future of business on the continent will be built on this connected infrastructure. By working with these fintechs, global companies aren’t just overcoming a barrier; they are plugging into Africa’s most powerful driver for growth. Olugbenga GB Agboola is founder and CEO of Flutterwave.
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E-Commerce
Massachusetts’ highest court heard oral arguments Friday in the state’s lawsuit arguing that Meta designed features on Facebook and Instagram to make them addictive to young users. The lawsuit, filed in 2024 by Attorney General Andrea Campbell, alleges that Meta did this to make a profit and that its actions affected hundreds of thousands of teenagers in Massachusetts who use the social media platforms. We are making claims based only on the tools that Meta has developed because its own research shows they encourage addiction to the platform in a variety of ways, said State Solicitor David Kravitz, adding that the state’s claim has nothing to do the company’s algorithms or failure to moderate content. Meta said Friday that it strongly disagrees with the allegations and is confident the evidence will show our longstanding commitment to supporting young people. Its attorney, Mark Mosier, argued in court that the lawsuit would impose liabilities for performing traditional publishing functions and that its actions are protected by the First Amendment. The Commonwealth would have a better chance of getting around the First Amendment if they alleged that the speech was false or fraudulent, Mosier said. But when they acknowledge that its truthful that brings it in the heart of the First Amendment. Several of the judges, though, seem to be more concerned about Meta’s functions, such as notifications, than the content on its platforms. I didn’t understand the claims to be that Meta is relaying false information vis-a-vis the notifications but that it has created an algorithm of incessant notifications … designed so as to feed into the fear of missing out, fomo, that teenagers generally have, Justice Dalila Wendlandt said. That is the basis of the claim. Justice Scott Kafker challenged the notion that this was all about a choice to publish certain information by Meta. It’s not how to publish but how to attract you to the information, he said. It’s about how to attract the eyeballs. It’s indifferent the content, right. It doesn’t care if it’s Thomas Paine’s Common Sense or nonsense. It’s totally focused on getting you to look at it.” Meta is facing federal and state lawsuits claiming it knowingly designed featuressuch as constant notifications and the ability to scroll endlesslythat addict children. In 2023, 33 states filed a joint lawsuit against the Menlo Park, California-based tech giant, claiming that Meta routinely collects data on children under 13 without their parents consent, in violation of federal law. In addition, states, including Massachusetts, filed their own lawsuits in state courts over addictive features and other harms to children. Newspaper reports, first by The Wall Street Journal in the fall of 2021, found that the company knew about the harms Instagram can cause teenagers especially teen girls when it comes to mental health and body image issues. One internal study cited 13.5% of teen girls saying Instagram makes thoughts of suicide worse and 17% of teen girls saying it makes eating disorders worse. Critics say Meta hasn’t done enough to address concerns about teen safety and mental health on its platforms. A report from former employee and whistleblower Arturo Bejar and four nonprofit groups this year said Meta has chosen not to take real steps to address safety concerns, opting instead for splashy headlines about new tools for parents and Instagram Teen Accounts for underage users. Meta said the report misrepresented its efforts on teen safety. ___ This story has been corrected to show one of the justices is called Justice Dalila Wendlandt, not Wendland. Michael Casey, Associated Press Associated Press reporter Barbara Ortutay contributed to this report.
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E-Commerce
President Donald Trump is planning a $12 billion farm aid package, according to a White House official a boost to farmers who have struggled to sell their crops while getting hit by rising costs after the president raised tariffs on China as part of a broader trade war. According to the official, who was granted anonymity to speak ahead of a planned announcement, Trump will unveil the plan Monday afternoon at a White House roundtable with Treasury Secretary Scott Bessent, Agriculture Secretary Brooke Rollins, lawmakers, and farmers who grow corn, cotton, sorghum, soybeans, rice, cattle, wheat, and potatoes. Farmers have backed Trump politically, but his aggressive trade policies and frequently changing tariff rates have come under increasing scrutiny because of the impact on the agricultural sector and because of broader consumer worries. The aid is the administrations latest effort to defend Trumps economic stewardship and answer voter angst about rising costseven as the president has dismissed concerns about affordability as a Democratic hoax. Upwards of $11 billion is set aside for the U.S. Department of Agriculture’s Farmer Bridge Assistance program, which the White House says will offer one-time payments to farmers for row crops. Soybeans and sorghum were hit the hardest by the trade dispute with China because more than half of those crops are exported each year with most of the harvest going to China. The aid is meant to help farmers who have suffered from trade wars with other nations, inflation, and other market disruptions. The rest of the money will be for farmers who grow crops not covered under the bridge assistance program, according to the White House official. The money is intended to offer certainty to farmers as they market the current harvest, as well as plan for next year’s harvest. China purchases have been slow In October, after Trump met Chinese leader Xi Jinping in South Korea, the White House said Beijing had promised to buy at least 12 million metric tons of U.S. soybeans by the end of the calendar year, plus 25 million metric tons a year in each of the next three years. Soybean farmers have been hit especially hard by Trumps trade war with China, which is the worlds largest buyer of soybeans. China has purchased more than 2.8 million metric tons of soybeans since Trump announced the agreement at the end of October. Thats only about one quarter of what administration officials said China had promised, but Bessent has said China is on track to meet its goal by the end of February. These prices havent come in, because the Chinese actually used our soybean farmers as pawns in the trade negotiations, Bessent said on CBS Face the Nation, explaining why a bridge payment to farmers was needed. During his first presidency, Trump also provided aid to farmers amid his trade wars. He gave them more than $22 billion in 2019 and nearly $46 billion in 2020, though that year also included aid related to the COVID-19 pandemic. Trump has also been under pressure to address soaring beef prices, which have hit records for a number of reasons. Demand for beef has been strong at a time when drought has cut U.S. herds and imports from Mexico are down due to a resurgence in a parasite. Trump has said he would allow for more imports of Argentine beef. He also had asked the Department of Justice to investigate foreign-owned meat packers he accused of driving up the price of beef, although he has not provided evidence to back his claims. On Saturday, Trump signed an executive order directing the Justice Department and Federal Trade Commission to look at anti-competitive behavior in food supply chains including seed, fertilizer and equipment and consider taking enforcement actions or developing new regulations. ___ An earlier version of this story incorrectly attributed the connection to tariffs to a White House official. Seung Min Kim, Josh Funk, and Didi Tang, Associated Press Associated Press writers Michelle L. Price, Bill Barrow, and Jack Dura contributed to this report.
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E-Commerce
The new Pentagon press corps gathered last week for their first in-person briefing. Thats since almost all credentialed reporters from traditional media companies surrendered their passes in October to protest new Defense Secretary Pete Hegseth’s strict media policy. Refusing to sign a 21-page Pentagon document that in effect banned journalists from trying to solicit any kind of information that was not pre-approved, the Pentagon instead issued passes to a newly credentialed corps of influencers, conspiracy theorists, and conservative commentators who happily agreed to the strict rules. The handpicked press corps were active on social media last week as they documented their first few days on the jobs. The Fake News is OUT, Wade Searle, who works for LifeSiteNews, a right-wing Catholic publication, posted on X. LifeSiteNews is IN. The A-Team press corps has taken over type beat, 23-year-old MAGA influencer Lance Johnston posted. He also uploaded a slideshow of photos of himself posing with Secretary of War Pete Hegseth. Others were otherwise occupied fighting over the desks of former press corp reporters. The Pentagon cubicle that used to belong to @DanLamothe is now mine, RC Maxwell, a reporter at the conservative outlet RedScare, posted on X, referring to a journalist at The Washington Post. Out with the propagandists and hacks. In with the truth tellers who love America. Conservative influencer Cam Higby and conspiracy theorist Laura Loomer also shared photos of themselves claiming to be sitting in Lamothe’s old spot. The Post reporter shared a compilation of the images on X, writing, “Y’all are going to have to work this one out for yourselves.” During the three-day event, the new press corps didnt miss an opportunity to take shots at their predecessors. MSM Journalists wreaked havoc on the Pentagon during their time in the building, posted Higby on X. He claimed that the adversarial media created a hostile work environment for staff, echoed by Pentagon Press Secretary Kingsley Wilson who spoke of former press corp members waltzing into her office and eavesdropping on officials meetings. The new press corp instead brought the heat and kept the public informed on issues relating to national security. Hegseth answered my questions. Its off the record so no details but I am very pleased with his leadership, John Konrad, a former ship captain and social media personality, reassured his X followers Wednesday. Last week also saw the release of the long-awaited inspector generals report on Hegseths sharing of highly sensitive military attack plans on the unclassified app Signal earlier this year. JUST IN: Advisor to @SecWar tells @RedState the IG report on SignalGate is an exoneration given that it proves no laws were broken, no classified information was shared, and the mission was a success, Maxwell posted on X. That is despite the report explicitly saying that Hegseth’s actions could have led to U.S. soldiers being harmed. The new press also kept the public informed with reports of festivities in the Pentagon. SANTA @ PENTAGON, Higby posted. Today Secretary of War Pete Hegseth introduced the children of Americas warfighters and civilian DoW staff to Santa, escorted in an armored military vehicle. Two soldiers in elf hats rapelled from the building as the vehicle arrived. Johnston also captured the Pentagon Christmas tree lighting party for the publics benefit. Last week, The New York Times sued the Pentagon and Hegseth over limits on press reporting. They alleged that the ban seeks to restrict journalists ability to do what journalists have always done ask questions of government employees and gather information to report stories that take the public beyond official pronouncements.
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E-Commerce
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