News

Today In Payments: Uber Money Head Resigns; Brussels To Investigate German Regulator Over Wirecard

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 Money Head Quits as Company Moves Away from Financial Services

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 to Investigate German Regulator Over Wirecard

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 Adds Driverless Car Maker Zoox to Its Portfolio for $1.2B

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, Brazil Central Bank in Talks to Restore Payments Service

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.

Wells Fargo: First Impressions Are Key When It Comes to Digital Onboarding

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.

Why 7-Eleven Is Betting on Voice Commerce to Keep Customers Loyal

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 Joins Private 5G Parade of Car Companies

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.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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