Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest ambition from Uber Eats, along with a story about a significant reduction in the number of unbanked U.S. consumers. Apple’s CEO calls for more privacy protections, RBS helps with Brexit preparation and Target details its holiday shipping plans.
Uber Eats Throws Down Gauntlet, Aims for 70 Pct of Food Delivery Market
The service, which currently covers more than 50 percent of the U.S. population, has been successful even in places where Uber does not operate its ride-hailing business or has a small presence.
Number of Unbanked Americans Plummets
A new survey revealed that the percentage of unbanked Americans fell to the lowest level since the 2007-2009 financial crisis.
Apple CEO Calls on US to Embrace EU-Type Privacy Laws
Under the GDPR, regulators can fine companies that run afoul of the law, with the levies as high as 4 percent of yearly revenue. The White House hasn’t been too keen to embrace a similar framework out of fear that it will impose too many burdens on the companies.
RBS Allocates $2.6B to Help SMBs Prepare for Brexit
RBS will use the funds for trade finance, term finance and liquidity financing for SMBs that conduct trade with the European Union (EU) or have significant exposure to foreign exchange (FX) volatility.
Target Plans No-Minimum Two-Day Shipping for Holidays
Rival Walmart, too, plans to expand in-store returns and two-day shipping for items offered on its website by third-party sellers.
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