Welcome to Five at Five, your late look at payments and commerce news you might have missed. Today brings news about a major financial boost for the future of automotive, along with a security move by Mastercard. Apple is going to launch a new chip, Pinterest beefs up video and Uber is raising fares.
SoftBank To Invest $2.2B In GM’s Cruise Self-Driving Car Business
The investment is coming from SoftBank’s $100 billion Vision Fund. Reuters noted it’s one of the fund’s biggest investments in self-driving technology.
Mastercard Taps Security Expert To Head Up Cybersecurity Solutions
The payments company said Simon Hunt’s role will increase Mastercard security capabilities for its credit card holders, customers, merchant and other stakeholders. The move comes as the threat of cybercrime grows.
Apple Set To Launch New iPhone Wireless Chip That Can Unlock Doors
The change to the near-field communication (NFC) chip is expected to be announced at Apple’s Worldwide Developer Conference (WWDC) on June 4.
Pinterest Unveils Promoted Video Tool
Advancing its advertising efforts, Pinterest said it plans to offer a promoted video tool, which allows marketers to gain more real estate than the platform’s typical grid-style layout.
Uber Raises Fares In Major U.S. Cities
The news comes after Uber announced in April that it has completely overhauled the app for its drivers. However, to serve passengers who might not be happy with the new prices, Uber offers services designed to ease those feelings.
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