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0:00.0 | Welcome to Xisprorata, where we take just 10 minutes to get you smarter on the collision |
0:11.3 | of tech business and politics. I'm Dan Pramack. On today's show, Google makes a play for Fitbit |
0:16.2 | and Facebook employees fight back on political ads. First, Uber money. |
0:21.7 | So tech companies love their paying customers. |
0:24.5 | But what they seem to love even more is getting a piece of how those paying customers, |
0:29.2 | well, how they pay for stuff. |
0:31.0 | Remember, Apple has its credit card. |
0:33.1 | Facebook is working on its Libra cryptocurrency. |
0:35.8 | Google has Google pay. |
0:36.8 | And now Uber is significantly |
0:39.0 | expanding a financial services unit that launched two years ago with a cash-back credit card for riders. |
0:44.3 | The umbrella name of what's being announced now is Uber Money and include several new initiatives. |
0:49.3 | First, on the driver's side, it'll introduce new products that help ride hail and Uber Eats drivers get paid in a more timely manner. |
0:56.7 | So far, they've basically been paid on a weekly basis. |
0:59.2 | Kind of creates a digital wallet and can also include a debit card that provides discounts on things like gas. |
1:04.6 | Now, for consumers, it is adding features to that branded credit card, |
1:07.8 | including a huge boost from 2% cashback to 5% cash back on purchases |
1:12.9 | of Uber products, including Eats orders. |
1:15.4 | The bottom line here is that Uber and its rivals are struggling to get brand loyalty among |
1:20.0 | both drivers and riders. |
1:22.3 | Drivers typically pick up the closest ride seeker, no matter what platform they're on, and |
1:26.9 | riders pick the closest and |
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