What's Going On With Uber Technologies Stock?

Uber Technologies Inc. UBER shares are moving lower. Uber on Thursday announced a new partnership with Lightspeed Commerce Inc. LSPD.

What Happened: Uber has announced a new North American partnership to integrate Uber Direct and Uber Eats marketplace into Lightspeed’s platform. Lightspeed offers a one-stop commerce platform empowering merchants to provide the best omnichannel experiences.

The new partnership will allow Lightspeed merchants to directly list their offerings and take orders from Uber Eats. It will also allow merchants to accept orders from their own branded website using Lightspeed’s Order Anywhere. Uber noted that merchants will then be able to utilize Uber Direct for delivery, allowing them to pay an associated delivery fee without added costs of developing their own delivery fleet.

“On-demand delivery is now a core expectation for consumers, with 75% of them expecting express delivery as an option, and merchants are taking note,” said Bernie Huddlestun, head of Uber Direct for US and Canada.

“We’re proud to partner with Lightspeed to offer restaurants solutions that meet their customers’ needs and encourage repeat orders, while giving restaurants the flexibility to offer seamless delivery experiences in the way that works best for growing their business.”

The new integration is currently only available in North America, but Uber said it plans to expand into other markets.

Related Link: Uber and Lyft Gear Up for Pay Increases in Minnesota: What Drivers and Investors Need to Know

UBER Price Action: At the time of writing, Uber stock is down 2.15% at $64.08, per data from Benzinga Pro.

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