Friday Five: Tech News & Subscription Trends
Welcome back to Friday Five! In this issue, we review new guidelines making subscriptions easier to cancel, Bonnier News taking over Readly, Apple’s new “Pay Later, Buy Now” service, ChatGPT banned in Italy, and how news publishers may pivot after Meta’s rebrand.
New Guidelines Making Subscriptions Easier to Cancel
In the United States, the Federal Trade Commission (FTC) has announced new guidelines to make it easier for consumers to cancel their subscriptions and free trials. Companies must provide a simple and easy-to-use cancellation method for consumers and clearly disclose the terms and conditions of free trials. The new guidelines require companies to obtain consent from customers before charging them for a subscription after the free trial has ended. The FTC expects the recent changes will help consumers avoid unwanted charges and decrease the number of complaints. Read the full article.
Bonnier News Takes Over Readly
Bonnier News has become the majority owner of Readly, a digital subscription service that provides customers with access to over 5,000 magazines worldwide. The acquisition is an opportunity to expand its digital presence and reach new audiences through Readly's platform. Read the full article.
Apple’s Pay Later Buy Now
Apple has introduced a new service called "Pay Later, Buy Now" allowing customers to use their Apple Pay account to make purchases and then pay later. The service provides two payment options: "Pay in 4" allowing customers to divide their payment into four equal installments, and "Pay Monthly" which allows customers to finance their purchases over a longer period with interest rates varying from 0% to 20%, based on the length of repayment. Read the full article.
ChatGPT Banned in Italy
Due to privacy concerns, Italy has become the first Western country to ban the advanced chatbot ChatGPT, backed by Microsoft. Earlier in March, the app was hit by a data breach involving users’ conversations and payment details. OpenAI said it complied with privacy laws and is committed to reducing personal data when training AI systems. Read the full article.
News Publishers May Pivot After Meta’s Rebrand
Press Gazette discusses the impact of Facebook’s rebranding as “Meta” on news publishers. Highlighting the changing social media landscape and news content, news publishers may need to change their strategies to align with Meta’s new direction and focus on virtual reality technology. Read the full article.