Uber Eats is the fastest-growing meal delivery service in the U.S.
- Uber Eats is the fastest-growing meal delivery service in the U.S., bringing in nearly as much new customer revenue as GrubHub. People are now spending more on Uber Eats than on any other food delivery service in nine of the 22 most-populous U.S. cities, according to data from Second Measure, a company that analyzes billions of dollars worth of anonymized debit and credit card purchases.
- In the time since, it’s beaten out GrubHub in El Paso, DoorDash in Fort Worth and Postmates in Phoenix, and even Amazon Restaurants in Amazon’s home city of Seattle.
- Overall food delivery sales grew 51 percent from August to March, according to Second Measure.
- Recently, Postmates and DoorDash discussed a merger as a way to fight back against GrubHub (which includes Seamless and Eat24) and Uber Eats, which dwarf them in market share.
Why your credit cards moved the card number to the back
- A growing number of credit cards have a sleek design on their faces without bulky, raised account numbers running along the bottom.
- But traditional magnetic strip cards, which required a customer's signature for security reasons, have largely been replaced by chip cards that encrypt cardholder information into a unique code that is difficult to copy.
- The microchip's added layer of protection renders embossed numbers unnecessary, allowing credit card makers to issue cards that have a decidedly different look.
- Without the account number, issuers can focus cardholders' attention on their brand, which is becoming increasingly important as the market becomes more competitive, Schulz said.
- Credit card issuers collect a small percentage of each purchase, causing a fierce competition to differentiate themselves through design, style, and rewards programs in an effort to attract new customers.
Valve acquires Firewatch developer Campo Santo
- Valve has acquired Campo Santo, known for the outdoor exploration game Firewatch, the developer announced late Saturday.
- The acquisition is a bit of a surprise for Valve, which in recent years has put much more focus on game distribution platform Steam, VR, and other hardware efforts, as well as upgrades to existing titles like Dota 2, rather than creating new games.
- The PC gaming giant did recently unveil Artifact, a digital card game based in the Dota universe.
- Further ReadingValve is developing three full-length VR games in Unity and Source 2Work also supposedly continues on three "full" VR games that Valve announced over a year ago, though no new details have emerged in the meantime.
- Blizzard's Ben Brode, game director on Hearthstone, sheds some light on the unsolved mysteries of the Hearthstone universe.
- What will happen to the classic set as it continues to lose cards every year?
Have a Toys 'R' Us Gift Card? Today Is the Last Day You Can Use It
- If you’ve still got a Toys ‘R’ Us gift card burning a hole in your wallet, you only have a few more hours left to use it.
- The storied toy retailer, which filed for bankruptcy in 2017 and announced in March that it would close all U.S. stores, will only honor gift cards until close of business on Saturday, April 21, according to its website.
- Toys ‘R’ Us gift card holders are actually lucky, despite the time crunch.
- Sometimes, gift cards become useless as soon as a chain files for bankruptcy, according to giftcards.com.
- Courts must grant struggling companies permission to continue honoring gift cards after a bankruptcy filing, and even then they are often accepted only for a limited time.
- Liquidation sales began at Toys ‘R’ Us locations across the country in March, and the company has shut down its e-commerce site.
These are the leading credit card processing companies
- There are two types of processors in the payment-card system.
- Front-end processors route transactions from merchants to the cardholder's bank to gain authorization; that is, they make sure a customer has enough available credit or funds to make a purchase.
- Back-end processors are responsible for a fund's settlement, which ends with the merchant receiving a deposit for transactions.
- Below, we've outlined the major players in credit card processing and described their major strengths.
- These card processors handle so much volume and so many dollars every day, but they are still just one piece of the larger payments ecosystem, which includes issuers, merchants, and more.
- That's why Business Insider Intelligence spent months putting together the greatest and most exhaustive guide on the world of payments entitled The Payments Ecosystem Report: Everything You Need to Know About The Next Era of Payment Processing.
Justice Department demands info from all four major US wireless carriers in probe of alleged collusion
- The Justice Department has reached out to all four major U.S. wireless carriers as part of an antitrust investigation, a person close to the situation told CNBC.
- The source said that the department sent letters to AT&T, Verizon, T-Mobile and Sprint in February requesting information.
- The person also said the Justice Department previously examined this matter in 2016, but ended up dropping the investigation.
- Earlier, The New York Times reported that AT&T and Verizon were being investigated.
- The newspaper also reported that the Justice Department has demanded information from GSMA, a mobile communications industry group.
- Sources told the Times that the investigation was opened five months ago following complaints from one device maker and one wireless carrier.
- GSMA, AT&T, Sprint and the Justice Department's antitrust division declined to comment to CNBC.
- T-Mobile did not immediately respond to CNBC's request for comment.
Founder of cryptocurrency debit card faces new fraud charges for $32 million ICO scheme
- On Friday, the SEC announced charges against Raymond Trapani, the third co-founder of Centra Tech Inc., which raised $32 million for a cryptocurrency debit card last year through a flashy ICO endorsed by DJ Khaled and boxer Floyd Mayweather.
- The SEC calls Trapani the “mastermind” of the fraudulent ICO scheme, which lured investors with claims of major credit card partnerships, misrepresentations about the company’s product, fake founder biographies and price manipulation of its Centra tokens (CTR).
- After receiving a cease-and-desist letter from a major bank directing him to remove any reference to the bank from Centra’s marketing materials, Sharma texted to Farkas and Trapani: “[w]e gotta get that s[***] removed everywhere and blame freelancers lol.” And, while trying to get the CTR Tokens listed on an exchange using phony credentials, Trapani texted Sharma to “cook me up” a false document, prompting Sharma to reply, “Don’t text me that s[***] lol.
The SEC charges a third Centra cryptocurrency 'mastermind' with fraud over its $32 million ICO
- Centra cofounder Ray Trapani was charged with fraud by the Securites and Exchange Commission on Friday.
- The news comes nearly three weeks after Sam Sharma and Robert Farkas, the other co-founders of Centra, were charged and arrested by criminal autorities accusing them of orchestrating a fraudulent ICO.
- It's not immediately clear why Trapani, whose involvement with the startup was documented by Business Insider in November, was not included in the original complaint.
- Farkas allegedly made a flight reservation to leave the US on April 1 but was arrested before boarding his flight, according to the complaint.
- The SEC also alleges that Sharma and Farkas created "fictional executives with impressive biographies" to promote the ICO to investors.
- Following its own investigation, Business Insider in November reported it had similarly found multiple fake executive profiles.
THE VOICE PAYMENTS REPORT: The next major interface for payments
- A revolution in payments and banking is beginning as virtual assistants like Siri and Alexa gain the abilities of cashiers, personal shoppers, and bank tellers.
- Already, Siri can help users make peer-to-peer (P2P) transfers with Venmo, Alexa can pay off Capital One credit card bills, and Google Assistant can let users shop with their voice from nearby stores.
- This is just the beginning.
- Today, 18 million US consumers have made a voice payment, and Business Insider Intelligence projects that figure will quadruple over the next five years.
- In a new report, Business Insider Intelligence explores how and why financial services providers such as PayPal and Bank of America are positioning for voice interfaces to take off.
- The report includes actionable recommendations that draw on interviews with executives spearheading voice initiatives, as well as exclusive survey data from our proprietary research panel.
I flew business class on Delta and paid only $5.60 — here's how I did it
- If you want to fly in business or first class without paying an exorbitant amount, though, there's good news: You can use your credit-card points and frequent-flyer miles to book an award ticket.
- Even if you don't have miles with the airline you want to fly, as long as you have credit-card points, you may be able to transfer them to your frequent-flyer account to book the ticket.
- If you sign up for a new American Express Platinum Card and earn the welcome bonus — 60,000 Amex points after spending $5,000 in the first three months — you'll have more than enough to book a transcontinental ticket in Delta One, and nearly enough to make it from the US to Europe in the business-class cabin.