In today’s top news, Vroom has arrived at a multi-year deal with Santander Consumer USA for auto financing, and Uber Eats launched its food delivery services for business around the world. Plus, Starbucks is withdrawing its 2020 outlook.
Automobile eCommerce platform Vroom has arrived at a multi-year deal with Santander Consumer USA to make auto financing simpler. The two companies said that the new collaboration will make it easier for clients of Vroom to receive a car loan.
Uber Eats is rolling out its food delivery services for companies around the world on Wednesday (April 8). The growth of Uber for Business comes after an experimental version of the offering debuted in 2018.
Starbucks is withdrawing its outlook for 2020 as it encounters a forecast 46 percent earnings drop for Q2. Sales in the U.S. first began to fall on March 12 and became worse when indoor seating areas were shuttered due to the coronavirus.
The coronavirus lockdown has made businesses throughout all verticals reduce staff or cut hours — and close completely, if (hopefully) temporarily. And 64.1 percent of consumers say they believe the government should offer funding to help SMBs cope with the crisis.
The COVID-19 pandemic has led to a wave of business closures that hasn’t been seen before and put millions out of work with no telling when they will be back to business as normal. It has also exposed a deeper challenge with the U.S. economy: Many Americans have almost no savings and are living hand-to-mouth.
A wave of chargebacks is headed toward the payments industry, spurred by COVID-19, as all sectors of the worldwide economy have been disrupted.
In an interview with Karen Webster, Johan Gerber, executive vice president of cyber and security products at Mastercard, said many firms are swamped with cancellations and disputes, and with consumer demands to refund money — a trend that will branch out from the leisure and travel sectors and into other segments.