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Food drink Uber pares back digital wallet aspirations, head of system stops – Bloomberg News – Reuters India


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Food drink Uber pares back digital wallet aspirations, head of system stops – Bloomberg News – Reuters India

FILE PHOTO: Uber CEO Dara Khosrowshahi gestures as he speaks during a meeting with the Economic Club of New York in New York City, New York, U.S., December 4, 2019. REUTERS/Andrew Kelly(Reuters) – Uber Technologies Inc’s financial services head Peter Hazlehurst is stepping down as the company focuses on rides and food delivery, and ices…

Food  drink Uber pares back digital wallet aspirations, head of system stops – Bloomberg News – Reuters India

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FILE PHOTO: Uber CEO Dara Khosrowshahi gestures as he speaks during a conference with the Economic Club of New York City in New York City City, New York City, U.S., December 4,2019 REUTERS/Andrew Kelly

( Reuters) – Uber Technologies Inc’s financial services head Peter Hazlehurst is stepping down as the company focuses on trips and food delivery, and ices prepares to become a financial services business, Bloomberg News reported, pointing out an email to staff.

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Chief Executive Officer Dara Khosrowshahi stated in the e-mail that Uber will “deprioritize” several of its finance-related tasks, which consisted of charge card, a digital wallet and immediate payments for drivers, the report on Thursday included.

Last month, Uber cut here23%of its labor force and stated it will concentrate on its core organisations and planned to decrease financial investment in several “non-core projects” to weather the effect of the pandemic on its service.

Reporting by Ayanti Bera in Bengaluru; Editing by Shinjini Ganguli

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