Today In Payments: Airbnb Files For IPO; Apple Hits $2T Milestone

In today’s top news, Airbnb has filed for an IPO with the SEC, and Apple hit a market value of $2 trillion. Plus, ride-hailing competitors are ready to fill the space if Uber and Lyft suspend services in California.

Airbnb Files for IPO

Airbnb, the popular vacation rental app, has submitted a draft registration statement to the Securities and Exchange Commission (SEC) for an initial public offering (IPO).

Apple Hits $2T Milestone

On Wednesday (Aug. 19), Apple Inc. became the first U.S. public company to exceed $2 trillion in market value, a staggering accomplishment that shines a light on the iPhone, iPad, Apple Watch and Mac maker’s status in the world economy.

Uber, Lyft Competitors Rev Their Engines in California

On the eve of a court order to reclassify freelance drivers as employees in California, competitors of Uber Technologies Inc. and Lyft Inc. are ready to pick up their customers if the ride-hailing giants suspend service.

US Foods Helps Restaurants Start Ghost Kitchens

US Foods Holding Corp., an Illinois-based foodservice distributor, has announced an initiative to help restaurant operators launch ghost kitchens. The concept has emerged to capitalize on the rising popularity of takeout orders in the face of COVID-19.

ClassPass CEO on Getting the Fitness Industry Back Into Fighting Shape

Despite social distance requirements and the slow pace of post-lockdown reopenings, only 1 percent of the boutiques that are part of the ClassPass network have closed for good. CEO Fritz Lanman shares his outlook on where the fitness industry is headed, the impact of digital in the longer term and how he and his team are helping to keep member studios in tip-top shape.

Mastercard: Inside the Samsung Pay ‘Super Card’

The Samsung Pay Card launched earlier this week, giving consumers the option to register multiple cards and any of them at checkout. Mike Cowen, Mastercard’s head of digital payments for the UK, Ireland, Nordics and Baltics, tells PYMNTS that the card isn’t a digital wallet, but a “super card” with a decoupled debit-like design.

The Main Street Rescue That Wasn’t (and Still Isn’t)

Millions of smaller businesses are grappling with the impacts of the pandemic, and the Main Street lending program is falling short.