Ant Financial is looking to raise a new $5bn round that would take the company’s value north of $100bn; the FT reports that the new round might begin later this month; if the valuation is as much the company would be worth more than Uber who right now is worth about $68bn; the biggest reason behind such a lofty valuation is the data collected on users according to Thomas Olsen, partner at Bain consultancy. Source.
American Banker takes a look at 6 ways payments has become a prominent theme during the Super Bowl; pizza chains...
Uber, the driving service, has launched a debit card product in Latin America, in conjunction with innovative bank, Bankaool; the continent as a whole demonstrates 1.1 mobile phone connections per capita, yet only 14% of the overall population has a traditional savings account; it's difficult to obtain a debit or credit card without being able to link it to a bank account with savings; Bankaool claims to be the first Mexican-based bank where you can fully open a bank account or obtain a card via an online application; Uber acknowledged that a payment card was essential for riders using its service. Source
On Thursday, Uber partnered with Mastercard, Marqeta, and Branch to power the Uber Pro Card.
Back in January, Uber sold their subprime-lending unit to the startup Fair; according to PaymentsSource, “…this gave the startup access...
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·Chlöe Swarbrick, a 25-year old climate MP was presenting her climate change case to the New Zealand parliament, and was heckled by an older audience member. Without missing a beat, she acknowledged and dismissed the challenger with a pithy “Ok, Boomer.”
The recording has since gone viral, inspiring everything from merchandise to Vogue articles. While the incident isn’t the source of the phrase “Ok, Boomer”, today it is the most well known manifestation. So what does the phrase mean? If you are inclined to more colorful language, see Urban Dictionary. But the meaning is obvious on its face — Gen Z is dismissing utterly and without consideration the judgment and protestations of society's elders on multi generational issues like economics, climate change, and social norms.
Zopa launched a pilot with provide Uber drivers with low credit scores car loans; however the partnership didn’t attract the amount of customers it had hoped; Zopa stated in the FT article, “The pilot was interesting, but demonstrated that the potential opportunity was limited for us, and we had other priorities.”; Bryan Zhang, co-founder of the Cambridge Centre for Alternative Finance discusses one of the problems in the industry today, attracting borrowers . Source
Uber has announced it will partner with Moneyfarm to provide financial advice services for its employees in the UK; Moneyfarm and Uber will offer the robo advice to approximately 40,000 UK drivers; speculators believe the UK market will see more robo advisory partnerships as the services have yet to gain significant market traction in comparison to other countries. Source
Uber is working towards offering more financial products hiring dozens of employees in New York; sources say that the team...
Uber recently said they are de-prioritizing their finance related projects to better weather the current crisis; this comes only a...