Breaking news

Musk’s X Is Misleading EU Consumers

Elon Musk’s social network X is violating European Union digital law by misleading users and not being transparent enough, the European Commission announced today.

KEY FACTS

  • The European Commission’s move follows a seven-month investigation under the Digital Services Act (DSA), which requires many major online platforms and search engines to do more to tackle illegal content and risks to public safety.
  • The commission said the user authentication system, known as a blue tick, is open to abuse by motivated malicious actors because anyone can pay to have a blue tick next to their name.
  • Previously, the blue tick “indicated reliable sources of information,” European Internal Market Commissioner Thierry Breton said in a statement. X now has the right to a defence, but if our opinion is confirmed, we will impose fines and demand significant changes, he added.

WHAT TO WATCH FOR

The EU’s move under the Digital Services Act could eventually pave the way for fines of up to 6% of X’s revenue if the company fails to allay the bloc’s concerns. There is no specific time frame for the next steps in the investigation.

A lack of transparency about ads also potentially violates the law, the European Commission said, as does the platform’s failure to open up its data to researchers.

Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.

The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter