In today’s top news, Peter Hazlehurst, head of Uber Money, has resigned, and Brussels will investigate Germany’s financial regulatory authority over failing to supervise Wirecard. Plus, Amazon plans to acquire self-driving tech company Zoox.
Uber financial services leader Peter Hazlehurst has stepped down from his position as the rideshare company has put its plan to start a digital wallet on hold. The company instead plans to focus more on ridesharing and food delivery rather than expanding its financial services.
Brussels is seeking an investigation into the Federal Financial Supervisory Authority (BaFin), Germany’s financial regulatory authority, for its failure to supervise Wirecard, the German payment processor currently being investigated for the missing $2.1 billion that it said it deposited in two banks in the Philippines.
Amazon will pay more than $1.2 billion to acquire Zoox, the Foster City, California self-driving technology company. A source said Amazon would collaborate with Zoox to create a ride-hailing fleet.
WhatsApp, after Brazil’s central bank shut down its payment functions in the country earlier this week, has signaled that it could soon work things out with the bank.
In this month’s Digital-First Banking Tracker, PYMNTS speaks with Ben Soccorsy, head of digital payments at Wells Fargo, about how banks can harness data analytics to determine the most common onboarding frustrations and work to eliminate them.
With 33 million loyalty program members, it would be easy for 7-Eleven to rest on its laurels. But Chief Data Officer Tarang Sethia tells PYMNTS the convenience store chain is doing anything but that, as it rolls out voice commerce for its gasoline loyalty program. Here’s what that looks like.
Ford and Vodafone announced plans this week to build a private 5G network. Ford will mainly focus on using the connectivity to power its welding machines to build electric cars.