As consumers opt for convenience, many are leaving behind cash and moving towards digital payment solutions. Shiv Singh, SVP of Innovation and Strategic Partnerships at Visa, joined us to discuss the key trends transforming commerce.
Visa just completed a major study and uncovered five major trends. Singh says the whole idea of paying in messenger environments is one of the biggest themes.
Singh highlights China's progress in messenger payments on the WeChat platform, which has seen a spike in volume. He also provides insight into Visa’s strategy for breaking into the Chinese market. When China's government is ready to loosen up its regulations, Singh says Visa will be ready to capitalize.
Tesla reported a surprise increase in sales in the third quarter as the electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30. The company reported Thursday that sales in the three months through September rose 7% compared to the same period a year ago. The gain follows two quarters of steep declines as people turned off by CEO Elon Musk’s foray into right-wing politics avoided buying his company’s cars and even protested at some dealerships. Sales rose to 497,099 vehicles, compared with 462,890 in the same period last year.
OpenAI could now be the world’s most valuable startup, ahead of Elon Musk’s SpaceX and TikTok parent company ByteDance, after a secondary stock sale designed to retain employees at the ChatGPT maker. Current and former OpenAI employees sold $6.6 billion in shares to a group of investors, pushing the privately held artificial intelligence company’s valuation to $500 billion, according to a source with knowledge of the deal who was not authorized to discuss it publicly. The valuation reflects high expectations for the future of AI technology and continues OpenAI’s remarkable trajectory from its start as a nonprofit research lab in 2015.
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