Today in the Connected Economy: DoorDash Unveils Its First Credit Card

Today in the connected economy, DoorDash teams with Chase and Mastercard to unveil its first-ever credit card. Plus, Uber Eats rolls out new point-of-sale offerings in hopes of wooing tech-weary restaurants, while personal finance company SoFi debuts “On the Money,” its information hub.

DoorDash, Chase Launching Co-Branded Mastercard

Delivery service DoorDash is collaborating with Chase and Mastercard to launch its first-ever credit card. The DoorDash Rewards Mastercard gives card members access to benefits while they earn rewards on goods they purchase both on and off the DoorDash platform. This new card expands on existing relationships between DoorDash, Chase and Mastercard. Chase has offered membership in DoorDash’s DashPass program to cardholders since 2020, while DoorDash and Mastercard first collaborated to offer card benefits last April.

Uber Eats Woos Tech-Weary Restaurants With New POS Integrations

With aggregators vying for restaurants’ loyalty, Uber Eats is hoping to set itself apart by giving operators what it said is the most intuitive point-of-sale (POS) integrations and the simplest onboarding. The delivery service has debuted new self-service signups to integrate with popular POS systems Toast and Clover, with the aim of attracting restauranteurs struggling with the friction typically associated with managing tech suites.

SoFi Hub Aims to Keep Consumers ‘on the Money’

Personal finance company SoFi has launched “On the Money,” a digital content hub designed to allow members to keep on top of their finances. The platform offers a place to keep abreast of economic and market news that affects users’ finances, along with “unbiased, actionable information.” SoFi’s Jennifer Nuckles said: “As part of our mission to help our members reach financial independence, we must continue to provide them with tools and meaningful resources to help them get their money right.”

Grab Focuses on Efficiency and Profitability by 2024

With an eye toward sustainable growth, Southeast Asian technology firm Grab is focusing on efficiency across its processes as it shoots for profitability by 2024. The Nasdaq-listed company, valued at about $10.8 billion, anticipates revenue growth of 45% to 55% year on year in 2023 and is targeting to break even by the second half of 2024. Grab said at its first Investor Day that it also expects its digital banking business to reach breakeven by 2026.

Gemini, Betterment Team to Offer Crypto Investment Portfolios

British cryptocurrency exchange Gemini is working with digital investment advisor Betterment to offer cryptocurrency investment portfolios. Gemini said the offering lets customers invest “in curated crypto portfolios constructed from digital assets listed on the Gemini Exchange,” with Gemini acting as Betterment’s crypto custodian.