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The £60m shift: How Carwow and Airwallex are redefining trust in online car sales
The £60m shift: How Carwow and Airwallex are redefining trust in online car sales

Sky News

time14 hours ago

  • Automotive
  • Sky News

The £60m shift: How Carwow and Airwallex are redefining trust in online car sales

When the team at London-headquartered Carwow launched their daily online auctions in 2021, they solved one half of the automotive marketplace equation: connecting private car sellers with trusted dealers through a digital platform. But as transaction volumes grew, reaching over £3 billion in sales, a critical experience gap emerged in their otherwise streamlined process. "Payments were happening off-platform," explains Will Morgan, Head of Product at Carwow. "Dealers were manually transferring funds. Sellers were waiting for confirmations. Clearing finance took time and paperwork. It created risk, frustration, and delay." The solution would fundamentally reshape how high-value transactions work in digital marketplaces. By embedding Airwallex's financial infrastructure directly into their platform as a white labelled solution, Carwow has - in just a matter of weeks - moved over £60 million in transactions into a unified digital flow. And in doing so, created a blueprint for how embedded finance can transform traditional industries. The Hidden Engine of Digital Trust For most dealers, payments represent the most vulnerable moment in any online transaction. In automotive sales, where average transaction values run into thousands of pounds, this anxiety intensifies dramatically. Traditional banking processes amplify these concerns: manual transfers introduce delays, off-platform payments create tracking difficulties, and fragmented systems leave both buyers and sellers uncertain about transaction status. "We asked ourselves: What's the best way for us to build trust on both sides of the transaction?" says Will Morgan, Head of Product at Carwow. "What if the entire transaction--from auction to payment--could all happen inside the Carwow platform?" The answer lay not in improving existing payment processes, but in reimagining them entirely. Rather than directing dealers to external banking systems, Carwow would create an integrated financial layer that operated seamlessly within their existing user experience. Engineering Seamless Transactions The technical implementation reveals why embedded finance represents more than incremental improvement. Through Airwallex's infrastructure, Carwow created digital wallets that operate entirely within their platform ecosystem. Dealers can fund purchases, trigger payments, handle negative equity settlements, and clear finance arrangements without ever leaving Carwow's interface. For sellers, the transformation is equally significant. Instead of waiting for manual bank transfers and chasing payment confirmations, they receive immediate transaction updates through Carwow's existing communication channels. The entire process--from successful auction to payment completion--operates as a single, auditable digital flow. "It's not just operationally smoother," Morgan notes. "It's structurally different. We've taken a fragmented process and turned it into a single, secure digital journey--from start to finish." Proving the Business Case The partnership's impact extends beyond user experience improvements. Since implementation earlier this year, over £60 million in transactions that previously occurred through external banking systems are now processed through Carwow's integrated platform, according to data provided by Carwow. The company reports a 52% year-over-year increase in revenue from its auction platform, and a 103% increase in dealer offers placed, suggesting embedded payments unlock broader marketplace engagement. "The early uptake has been substantial," Morgan observes. "We've moved high-value transactions that used to happen off-platform into our secure, instant system--at considerable scale." This volume represents more than operational efficiency gains. By maintaining transaction oversight throughout the entire process, Carwow can provide enhanced transparency, faster dispute resolution, and improved regulatory compliance--benefits that compound as transaction volumes increase. The Embedded Finance Advantage Immy Spence, VP Commercial EMEA at Airwallex, positions the Carwow integration within a broader industry transformation. "We're seeing disruptor platforms increasingly embed financial services to create seamless, trusted, and verticalised experiences that were previously unimaginable with traditional banking methods." The approach addresses fundamental marketplace challenges that extend well beyond automotive sales. Whether in travel booking, e-commerce transactions, or B2B wholesale operations, the principle remains consistent: embedded financial infrastructure can eliminate friction points that traditional banking systems cannot adequately address. For Carwow's 20,000 monthly vehicle listings and network of trusted dealers, embedded payments provide competitive differentiation in an increasingly crowded marketplace. Dealers experience faster stock acquisition cycles, while sellers benefit from immediate payment confirmation--advantages that encourage continued platform usage. Lessons for Digital Marketplaces The Carwow-Airwallex partnership highlights broader principles applicable across digital marketplace operations. High-value transactions, in particular, benefit from embedded financial infrastructure, where trust concerns and payment delays create significant user friction. Traditional payment processes--characterised by platform exits, manual procedures, and fragmented user experiences--represent structural obstacles to marketplace growth rather than mere operational inefficiencies. Embedded finance solutions address these challenges at the architectural level, creating integrated experiences that feel native to the platform rather than bolted-on additions. "This isn't just a feature--it's a new foundation," Morgan explains. "We've redefined our car-changing experience. It's simpler, safer, and built for a modern, digital automotive marketplace." The Infrastructure Behind Innovation The technical capability that enables such integration represents a significant shift in financial services architecture. Airwallex's embedded finance solutions allow platforms to offer banking-grade security and regulatory compliance while maintaining complete control over user experience design and transaction flows. This infrastructure approach enables platforms like Carwow to compete more effectively against traditional automotive sales channels by offering superior transaction experiences. Rather than directing users to external systems that dilute brand engagement, embedded solutions keep transactions within the platform ecosystem while meeting all regulatory requirements. Scaling Digital Trust As Carwow approaches £100 million in embedded transaction volume, according to company data, their experience suggests embedded finance may become standard infrastructure for high-value digital marketplaces. The combination of enhanced user experience, improved operational efficiency, and stronger regulatory oversight creates compelling business advantages that traditional payment processing cannot match. For marketplace operators across industries, the Carwow case study demonstrates how embedded financial infrastructure can transform operational challenges into competitive advantages. By eliminating friction points that users previously accepted as inevitable, platforms can create differentiated experiences that drive increased engagement and transaction volumes. The automotive sector's digital transformation continues accelerating, but Carwow's embedded finance implementation suggests the most significant innovations may occur not in vehicle technology, but in the financial infrastructure that makes digital car sales possible at scale.

I ordered an £8 bag from Shein – it looks super expensive but there's a major flaw with it that no one can work out
I ordered an £8 bag from Shein – it looks super expensive but there's a major flaw with it that no one can work out

The Sun

time21 hours ago

  • Entertainment
  • The Sun

I ordered an £8 bag from Shein – it looks super expensive but there's a major flaw with it that no one can work out

SHE thought she had found the perfect bag on Shein. But little did one bargain hunter, Leah Higgins, know that her £8 clutch would come with a major flaw. 2 2 With her hen do around the corner, the bride to-be decided to order a bunch of bags from the China-based marketplace, Shein. Last week, one of them - a stunning pearl clutch for under a tenner - finally arrived, and Leah was amazed by the order. However, unbeknownst to her, the gorgeous accessory had a massive flaw - Leah was not able to open it, no matter how hard she tried. Desperate to solve the mystery, the thrifty fashionista took to TikTok where she sought help. ''Right, this is a shot in the dark. If anyone can help me, please help because I am seriously losing my marbles here. ''I ordered a bunch of bags from Shein for my hen do and one of them has arrived. ''She is stunning, she is everything I imagined she'd be. This looks a lot more expensive than the £8 I paid for her,'' Leah said in the video, showing off the jaw-dropping clutch. ''But when I tell you, for the past hour I've been trying to open this bag and I can't figure it out for the life of me.'' According to the fashion lover, who gave the bag a shake to prove there's a something inside, even her partner had attempted to open it - but with no luck. What's more, he pointed out, there are also no images of the bag open. Despite her hardest attempts to pull the bag open from the middle, Leah (@ leaahhiggins) was unsuccessful and she begged other TikTokers for a helping hand. ''HELP ME IF YOU HAVE THIS BAG PLEASE HELP ME,'' she wrote in the caption of the now-viral video, which has racked up more than 4.6million views in just five days. More than 2,000 viewers flooded to comments to share their suggests - some more hilarious than others. A fashion expert's verdict on buying a wedding dress from Shein Fabulous' Fashion Editor, Clemmie Fieldsend reveals why you shouldn't be shopping at Shein for your wedding dress. "When it comes to your big day, you want to feel your best and look your best. You want to feel special and, more importantly, be comfortable in what you're wearing, are you going to get that from Shein? I doubt it. Look, in an ideal world you're getting hitched to the person of your dreams and what you wear is irrelevant. But let's be honest, it's kind of a big deal. If you're spending your hard earned cash on food, drinks, favours and everything else to celebrate you and your partner with your nearest and dearest, you deserve a dress that makes you feel like a million dollars. But a £30 frock from Shein is a gamble. It might be ill fitting, it might be badly made or just the complete opposite to what you expected. High street bridal dresses are ten a penny these days with brands such as Asos, Karen Millen and even Primark selling bridal wear. Make a day out of it and hit your local high street or shopping centre to try on as many as you can until you find 'the one', don't wait for the postman to deliver disappointment." One joked: ''It's voice activated just say open sesame and there you go.'' Another advised: ''The gold thing push it as in away from you, it should open. if it don't turn it around and try again.'' A third fashionista commented: ''I have just bought this! It's magnetic so pull the sides apart, hold the gold top thing and pull the other side of the hard shell.'' After taking the internet by storm, Leah also posted a follow-up video where she revealed some people had told her to ''crack it like a nut''. ''And once you open it once, it will just continue open because the magnet is so strong on the inside that you just kind of have to loosen it a little bit. In the update clip, Leah placed a pair of tweezers in the teeny opening in the middle, as she pulled the two parts apart - and was gobsmacked when the clutch finally opened. Although she was then scared to close it, the clutch now opened with no problem - and the mystery was finally solved.

How retailers can prepare for the rise of AI shopping bots
How retailers can prepare for the rise of AI shopping bots

The Australian

time2 days ago

  • Business
  • The Australian

How retailers can prepare for the rise of AI shopping bots

AI has the potential to dramatically reshape the way customers shop, and industry leaders are scrambling to create the killer app that will dominate the space. Is it here yet? Not quite — but we're getting close. In the past six months, a major e-commerce player, two payment giants, and an AI technology company have all announced or launched early-stage AI shopping bots — intelligent assistants that can search for products, compare prices, read reviews, and even complete purchases on behalf of customers. Once widely adopted, AI shopping bots could significantly disrupt traditional retail models. Historically, the retailers who succeeded were those who best curated and managed physical store inventory, or who most effectively linked a customer's online search to their product range. AI agents challenge these fundamentals. They understand customer preferences more deeply, bypass intermediaries, remove price asymmetries, and handle the more tedious administrative aspects of shopping. This impact is especially pronounced in models like marketplaces and loyalty programs, which rely heavily on range and value. Who wants to spend hours navigating clunky marketplaces if they don't have to? How valuable is a loyalty program's discounts and special offers if an AI bot always finds the lowest price — or integrates its own rewards system? However, these agents are not without fragility. A loss of customer trust from breaches in data and privacy could quickly erode the strength of their value proposition. Harsha Maddipatla is Partner, Retail Strategy, at Monitor Deloitte So, what are the implications for retailers? The bottom line is that standing out on value has never mattered more. In a landscape where digital-native companies are leading the way in building AI agents, most traditional retailers may not even get a chance to compete in this space. That makes doubling down on value critical. With an agent choosing from infinite options, price and value become the deciding factors. Pushing products into the market at the most competitive prices ensures they're surfaced to customers more often. This favours discount retailers but could leave mid-tier retailers struggling. And naturally, any price-driven competition is likely to compress margins across the sector. Retailers with scale and influence may also choose to invest in personalisation, search, or agent-driven websites, enhancing the customer experience within their own ecosystems. Partnering with others, strengthening loyalty programs, and offering high-quality products may help retain customers who would otherwise turn to AI shopping bots. There is also a world where an agent-to-agent economy allows a retailer's website agent to interact with customer shopping agents and offer curated, ring-fenced range and more dynamic pricing to remain competitive. A strategic shift in marketing will also be necessary. If AI agents gain traction, new shopping agent promotional channels will emerge (e.g. preferential placement in draft shopping baskets). Depending on the retailer, this may require a re-allocation of marketing dollars from traditional media channels. Physical stores, too, will need to evolve. While they will likely incorporate AI into omni-channel strategies, they must also offer something unique. To compete with the ease of digital agents, brick-and-mortar retail must become more experiential — entertaining, surprising, and rewarding shoppers who visit in person. This shift could also reinvigorate loyalty programs. For these programs, shopping agents are as much of an opportunity as they are a threat, given that the value of loyalty programs often lies in linking in-store and online transactions to create a rich dataset that can enhance agent functionality. However, failing to adapt could mean losing relevance in online shopping. So, what options do loyalty programs have? One is to build their own AI agents. Many programs already have extensive customer data and might be tempted to compete — especially with the right technology and last mile delivery partnerships. But few loyalty programs span multiple brands, which is a key requirement to compete in this space. Single-brand programs lack the reach to rival AI agents that search across dozens of retailers. Another option is for loyalty programs to integrate with whichever AI shopping agents emerge as leaders. These programs offer key differentiators: rewards and data. The insights loyalty programs provide into customer behaviour across both physical and digital touchpoints could greatly enhance AI agents' relevance and utility. In return, loyalty programs would gain access to a new, high-value channel and could even increase online engagement. The rise of AI shopping agents marks a turning point for retail. Customers will no doubt adopt them with enthusiasm once they figure out how much time and money they can save. To stay competitive, retailers can't stick their fingers in their ears: they must double down on value, improve their digital presence, embrace emerging AI agent channels, and explore how loyalty programs can not only adapt to, but enhance, the agent ecosystem. Harsha Maddipatla is Partner, Retail Strategy, at Monitor Deloitte. - Disclaimer This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional adviser. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ('DTTL'), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. Please see to learn more. Copyright © 2025 Deloitte Development LLC. All rights reserved. -

What You Need to Know Ahead of Airbnb's Earnings Release
What You Need to Know Ahead of Airbnb's Earnings Release

Yahoo

time6 days ago

  • Business
  • Yahoo

What You Need to Know Ahead of Airbnb's Earnings Release

With a market cap of $86.8 billion, Airbnb, Inc. (ABNB) is a San Francisco, California-based online marketplace that connects hosts offering unique accommodations, anything from spare rooms to entire homes, with travelers worldwide. Airbnb has revolutionized travel by enabling peer-to-peer lodging, later expanding into experiences and services. The company is expected to release its Q2 2025 earnings on Tuesday, Aug. 5. Ahead of this event, analysts expect Airbnb to post adjusted earnings of $0.92 per share, up 7% from $0.86 per share reported in the same quarter last year. The company has surpassed Street's bottom-line estimates in only one of the past four quarters, while falling short of expectations on three other occasions. More News from Barchart Dear Nvidia Stock Fans, Mark Your Calendars for July 16 Seeking Passive Income? This 'Strong Buy' Dividend Stock Yields 8.6%. How to Buy Tesla for a 13% Discount, or Achieve a 26% Annual Return Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For fiscal 2025, analysts forecast ABNB to report an adjusted EPS of $4.18, an increase of 1.7% from $4.11 reported in fiscal 2024. Moreover, in fiscal 2026, its earnings are expected to grow 13.6% year-over-year to $4.75 per share. Shares of ABNB have plunged 7.3% over the past 52 weeks, underperforming the S&P 500 Index's ($SPX) 10.9% gain and the Consumer Discretionary Select Sector SPDR Fund's (XLY) 14.5% returns during the same period. On May 1, ABNB reported its Q1 results, and its shares rose more than 1% in the following trading session. Driven by increased nights and experiences bookings, its revenue increased 6.1% year over year to $2.3 billion. However, the company's EPS declined 41.5% year over year to $0.24, due to higher stock-based compensation, investment write-downs, and lower interest income. Airbnb continued to demonstrate strong cash-generating ability, delivering $1.8 billion in free cash flow with an impressive 78% margin, which supported $807 million in share buybacks. Global booking activity remained resilient, with nights and experiences booked rising 8% to 143 million, fueled by solid demand in Latin America and Asia Pacific, even as U.S. bookings softened due to economic uncertainty. Analysts' consensus view on ABNB is cautious, with a "Hold" rating overall. Out of 39 analysts covering the stock, opinions include 11 "Strong Buys," one 'Moderate Buy,' 20 "Holds,' two 'Moderate Sell,' and five 'Strong Sells.' Its mean price target of $139.67 represents a 2.3% premium to current price levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Got a Startup Idea? Here's What It Really Takes to Make It Work
Got a Startup Idea? Here's What It Really Takes to Make It Work

Entrepreneur

time6 days ago

  • Business
  • Entrepreneur

Got a Startup Idea? Here's What It Really Takes to Make It Work

Having a great idea is only the starting line. Opinions expressed by Entrepreneur contributors are their own. In the startup world, great ideas are everywhere. But turning an idea into something real? That's rare. And sticking with it long enough to make a real dent? That's where most people give up. When I started my latest venture, I believed I had a solid idea. Maybe I did. But I quickly learned the truth: the idea is only 5% of the journey. The other 95% is execution — showing up every day, fixing what's broken, listening to feedback and grinding through the not-so-glamorous parts of building something from nothing. Here's what I've learned the hard way: 1. You didn't create the problem, but you still have to solve it Spotting a problem in the world isn't hard. Many founders are motivated by something they've experienced or seen firsthand. We chose to take on a broken job marketplace. That was the easy part — seeing the gap. The real challenge is building a solution that works and scales. It takes time, patience and iteration. The "how" behind your idea is your true differentiator — and it's the part that requires the most effort, testing, pivoting and perseverance. Related: Got an Awesome New Business Idea? Here's What to Do Next. 2. 'I had that idea too; doesn't matter You'll hear it: "Oh yeah, I thought of that years ago." Maybe they did. But ideas are cheap — execution is where value is built. There's a graveyard full of great ideas that never got off the ground. Execution, even when it's messy and unpredictable, is what gives your idea a heartbeat. 3. Startup life is less glamorous than it looks People imagine startups as pitch meetings, product launches and buzz. In reality, it's writing support docs at midnight, testing referral flows that don't work, replying to user complaints, tweaking landing pages, managing customer feedback — all while building operational systems in the background. It's not flashy. It's a consistent, often invisible effort. As a self-funded founder, I feel every dollar spent. I juggle a day job and burn early mornings and late nights trying to move the needle. The sacrifice is real — emotionally, financially and mentally. But the progress, however small, is what keeps you going. 4. How long is the long game? Here's a truth most founders underestimate: meaningful traction takes time. Sometimes a lot of it. Most startups don't see real growth for 12–24 months. Sometimes more. You need to ask yourself: Can I stay committed, aligned and focused for the next 1,000 days? Even when it feels like nothing is working? Even when others stop believing? As a founder, your belief has to carry the weight for your team, your customers, your family and yourself. Startups don't fail only because of bad ideas. They fail because people misjudge how long and hard the road really is, and give up too early. Related: Have a Business Idea? Here's How To Put It into Action. The real test isn't the idea — it's the grind If you're thinking about launching something, ask yourself this: "Am I ready to go into full execution mode for the next 1,000 days — through all the friction, feedback and potential failure?" Only you can answer that. But answering it honestly may be the most important part of your startup journey. Ready to break through your revenue ceiling? Join us at Level Up, a conference for ambitious business leaders to unlock new growth opportunities.

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