In today’s top news, Microsoft was reportedly in talks to acquire Pinterest, and Uber showed optimism for recovery amid the digital shift in its Q4 earnings. Also, Western Union reported double-digit growth in digital transactions in its earnings report.
Microsoft Reportedly Mulled $51 Billion Pinterest Acquisition
Microsoft was in talks with Pinterest, valued at $51 billion, for a possible acquisition deal, but the discussions are currently on hold. The talks were part of Microsoft’s strategy to snap up social platforms with engaged communities that could operate parallel to its cloud.
Uber Q4 Earnings: Delivering Food Runs Miles Ahead Of Delivering People
The company is betting that the common components of the digital shift and the expected pandemic recovery will converge to bring the mobility business back to 2019 levels and will continue to drive the “bring it to me” economy.
Western Union Eyes $1B In Digital Transaction Revenues In 2021
Western Union’s latest earnings results show double-digit percentage gains in digital transactions, which were a growing percentage of overall C2C business. That trend is unlikely to change, as management is eyeing a digital milestone of $1 billion in revenues this year.
Mastercard Network Will Support Select Cryptocurrencies
Mastercard has announced it will offer support for cryptocurrencies on its network later this year. The firm already gives users the ability to transact with cryptocurrencies via cards, but not through the network.
Digital Onboarding Solves Insurance Providers’ Duplicate Data Problem
The P&C Insurance business is highly competitive, and retaining customers often comes down to their very first digital encounter and the information they’re asked to share, James McKeown, vice president of customer experience and mobility at Selective Insurance Group, told PYMNTS. In the Digital Consumer Onboarding Tracker, McKeown explains the link between efficient digital data onboarding tools and efficient customer invoicing.
No Layovers: Instant Payments Take Direct Path To Primary Account Access
When it comes to instant payments, consumers want a direct flight to their primary account destination. As Ingo Money CEO Drew Edwards told PYMNTS’ Karen Webster, making a stop along the way at a closed-loop prepaid card or proprietary mobile wallet is an unnecessary piece of friction for the consumer to overcome.
Lyft Plays It Safe In Q4 Earnings, Holds Back On Expansion
Lyft’s concentration on eliminating expenses paid off, resulting in a drop of $360 million in fixed costs in the fourth quarter — an additional 20 percent in cost reductions than originally projected. The company said COVID-19 is still casting a dark cloud over Q1 2021, with some promise of growth inflection in Q2.
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