In today’s top news, President Trump signed the pandemic relief bill Congress passed last week, and Square CEO Jack Dorsey is reportedly interested in buying Jay-Z’s TIDAL music app. Plus, Grubhub drivers in California are angry over a policy change that has reportedly reduced the size of tips coming in.
After days of uncertainty, President Donald Trump has signed a sweeping $900 billion pandemic relief bill on Sunday night (Dec. 27), averting a government shutdown and providing millions of Americans help as the pandemic continues through the new year.
Jack Dorsey — the billionaire CEO of Square and Twitter — is said to be interested in buying TIDAL, the audio service owned by billionaire music legend Jay-Z, which would add a music feature to payment platform Square’s growing stable of services.
Grubhub drivers are fuming over a new company policy that has led to dramatically reduced tipping. The platform shifted the default tip from around 20 percent to zero as a response to Proposition 22 in California, which helped gig workers access certain benefits usually directed to workers classified as employees.
PayPal has reportedly dropped its bid to acquire bitcoin wallet purveyor BitGo, a pursuit that became public in October. PayPal still remains interested in investing in the cryptocurrency space, as it will begin allowing customers to transact in a number of cryptocurrencies, including bitcoin, Ether, Bitcoin Cash and Litecoin, in 2021.
Preparing for a new year is filled with time-honored traditions, resolutions and reflections on the year that will soon be history. 52 Mondays 2020 is the annual publication of the collective works of Karen Webster’s weekly Monday columns, one that this year will take readers on a Monday-by-Monday recap of a year full of chaos, heartbreaks, pivots — and the inspiring innovation that drove seismic shifts in payments and the connected economy. Take one more look back before looking ahead to 2021.
Banks are fast-tracking digital-first banking solutions, but customers used to walking into a branch struggle to adapt, says CarrieAnne Cormier, senior vice president of retail operations and strategy for Avidia Bank. In the Digital-First Banking Tracker, Cormier explains how a cross-channel approach can help these customers get comfortable with banking in a digital-first world.
An increasing number of companies – including smaller firms – are eschewing traditional initial public offerings, in part to avoid hefty underwriting fees. Will the trend stick into a new year – and beyond?