Payments News

On The Web

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Companies

Uber And Uber Eats Now Let You Split The Bill Using Venmo

“A key factor in this latest partnership appears to be data suggesting Venmo was already a popular mechanism for sharing payments between multiple Uber riders. Someone would pay for an Uber ride through their account, as usual, and then request reimbursement from their friends through Venmo. According to the company, more than 6 million Venmo […]
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Companies

Uber Cash Payments Could Soon Be Accepted In More Global Cities

“It’s one of the key players in edging us towards a cashless society – but Uber cash payments could soon be available in more cities across the world. The ride-hailing app, whose business model has always been to offer quick and cashless payments, already offers the service in 51 countries. Now, the Uber cash payments system […]
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Companies

Moving Forward Together with Cities

“Since I started as CEO I’ve signaled very clearly that I am committed to being true partners to cities for the long term. This partnership will take many forms over time. As a start, today we’re excited to share a series of product updates that give riders more ways to get around without needing a […]
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Companies

Its IPO Document Shows the Massive Extent of Uber’s Card Business

“The statement says 87% of Uber’s $49.8 billion in gross bookings last year were on credit or debit cards. That translates into $43.5 billion in card volume. Uber defines gross bookings as the total dollar value, including taxes, tolls and fees, of its ride-sharing, dockless bike and scooter rentals, Uber Eats restaurant deliveries, and freight […]
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Companies

Uber Pares Back Digital Wallet Ambitions, Head of Unit Quits

“Uber Technologies Inc. ’s financial services leader Peter Hazlehurst is calling it quits as the ride-hailing giant focuses on rides and food delivery, and ices plans to become a financial services company. In an email to staff on Thursday, Uber Chief Executive Officer Dara Khosrowshahi said that Uber will “deprioritize” several of its finance-related projects, […]
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Companies

Investors Aren’t Moved by Uber’s Shift Into Banking

“The “pivot” to fintech has been a popular strategy among Asian tech and ride-hailing companies. India’s Ola made fintech a priority in 2015 after spinning out its payment service, Ola Money , into a standalone app. Indonesia’s Go-Jek started its Go-Pay service in 2016. “There is some precedence for success,” Bernstein analyst Harshita Rawat said […]
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Companies

Uber Announces Deeper Push Into Financial Services With Uber Money

“The company announced on Monday the formation of a new division called Uber Money to house its efforts, which include a digital wallet and upgraded debit and credit cards. The emphasis, at first, will be expanding Uber’s efforts to give its 4 million-plus drivers and couriers around the world access to a mobile bank account […]
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Companies

Uber, Postmates Agree on $2.65 Billion All-Stock Deal

“Uber Technologies Inc. has agreed to acquire Postmates Inc. in a $2.65 billion all-stock takeover expected to be announced as soon as Monday morning in the U.S., according to people familiar with the matter. Uber Eats head Pierre-Dimitri Gore-Coty is expected to continue to run Uber’s combined delivery business, according to a person who asked […]

On The Wires

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