Foray Into Fintech: Can Uber Establish Consumer Trust?

MEC Featured in CEOWorld

Monica Eaton-Cardone of Chargebacks911® Featured in CEOWORLD Magazine

What do Uber’s new forays into fintech mean for the future of the company and the payments industry at large? That’s the question Chargebacks911 COO Monica Eaton-Cardone examines in a new guest feature for CEOWORLD Magazine.

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As Monica explains in the post, Uber’s leadership have plans beyond a simple ridesharing app. “The folks at Uber want to be a transportation company that will play a core component of America’s future in a real, structural way,” she says. “And, based on recent announcements, the company sees fintech as another key element of their vision.”

Uber sees the future of their company as one that’s fully-integrated into the global transportation matrix. To ease that process—and save billions of dollars annually—the brand is developing their own internal fintech products. It’s not as simple as just building out an app, though. Uber needs to strike that vital balance between convenience, customization, and security.

“Ultimately, everything comes down to trust. Regardless whether you’re a major global brand like Uber, or a sole proprietorship, trust is the bedrock on which the customer-merchant relationship relies…consumers are slow to give trust, and fast to take it away.”