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.
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.
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.
The change to the near-field communication (NFC) chip is expected to be announced at Apple’s Worldwide Developer Conference (WWDC) on June 4.
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.
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.