New Uber Hub To Create 3K New Jobs In Texas

Texas Gov. Greg Abbott announced that Uber will receive $24 million from the state to establish a new U.S. General and Administrative Hub in Dallas.

The project will create 3,000 new jobs and more than $75 million in capital investment.

“I am proud to welcome Uber’s investment in the great state of Texas, along with the 3,000 jobs the company will bring to its new Dallas office,” Abbott said in a press release. “This investment will bolster Texas’ continued economic success and reputation as the best state for business. Our unrivaled workforce and business-friendly environment makes Texas the perfect home for innovative companies like Uber.”

Uber CEO Dara Khosrowshahi added: “Dallas became the first city in Texas where the Uber app was available in 2012, and since then Texas has been a hub of innovation for our platform. Uber is excited to bring this major investment to Texas and to increase our commitment to the City of Dallas.”

Dallas County Judge Clay Lewis Jenkins revealed that the deal “will create a $400 million annual payroll in Deep Ellum [a Dallas neighborhood] that will provide a huge boost to our urban core with a positive wave that will spread across our entire county and region.”

Earlier this month, the rideshare giant reported Q2 results that showed bookings were up 35 percent, active users were up 30 percent, trips were up 35 percent and revenue grew by 14 percent to $3.16 billion from $2.76 billion at this time last year. Revenue did, however, come in a bit below pre-release analysts’ estimates of $3.36 billion.

But the big news was Uber’s bigger miss on earnings. Analysts were expecting Uber to post a loss — $3.12 per share — and were taken by surprise by the much larger loss of $4.72. In all, the losses added up to a little over $5 billion in three months. When added to the approximately $1 billion during Q1, Uber has lost a little over $6 billion in six months.


45% of Non-Recurring Transactions Now Use Instant Payments

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The gig economy and gaming industries have driven a rise in ad hoc transactions, payments made outside of regular invoicing and payroll. Businesses are relying on instant payments to streamline these transactions, which involve contractors, consumers and small businesses.

According to a PYMNTS Intelligence report, “Gigs and Games: How Instant Payments Are Gaining Ground for Ad Hoc Transactions,” a collaboration with Ingo Payments, with increased demand for efficiency and speed, instant payment systems are becoming a preferred solution, though obstacles to wider adoption remain.

Instant Payments Comprise Nearly Half of Ad Hoc Transactions

Instant payments are gaining in popularity for ad hoc transactions, according to the report. With the demand for quicker and more efficient methods of payment, businesses are adopting real-time payment systems to facilitate faster transactions, reduce fraud risk and improve overall financial processes.

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PYMNTS found 45% of all ad hoc payments made in July 2024 were sent via instant methods, a notable increase from 36% earlier in the year. Industries that rely heavily on nonrecurring payments, such as gaming and the gig economy, have seen the most significant uptake.

Larger Enterprises Leading the Shift

Larger companies are leading the adoption of instant payments for ad hoc transactions. Businesses with more than $1 billion in revenue are sending half of their ad hoc payments via instant rails, revealing a preference for speed and efficiency. Smaller companies, however, are lagging in adoption, with those earning between $50 million and $100 million turning to instant methods for just 34% of ad hoc payments. The delay in adoption among smaller enterprises is often linked to the high costs of integrating instant payment systems into their existing processes.

Despite this, the trend toward adopting instant payment methods is gaining momentum across the board. Many large enterprises view instant payments as the future standard for ad hoc transactions, especially in business models that no longer rely on recurring payees, such as contractors or freelance workers. But challenges persist in scaling this technology across industries of all sizes.

Barriers to Broader Instant Payment Adoption

While instant payments offer considerable benefits, particularly in terms of speed, cost savings, and enhanced customer/vendor retention, the report shows businesses face obstacles in fully adopting them. For many enterprises, the cost of integrating real-time payment systems remains the primary barrier. According to the report, 35% of businesses cite integration costs as the biggest obstacle to adopting instant payments for ad hoc transactions.

Additionally, there is a digital divide, with industries like gaming and the gig economy leading the charge in adopting instant payment systems. But two-thirds of small and medium-sized businesses (SMBs), particularly those in industries with less digital momentum, are dealing with the costs and complexities of implementing these systems. Despite these challenges, businesses that do embrace instant payments could gain a competitive edge by securing customer and vendor loyalty, driving down transaction costs, and improving cash flow management.