Global tech company, Uber is expanding its range of services by launching a new division, Uber Money – a platform that’ll aim to provide financial services to both Uber drivers and riders. The Uber Money platform includes features like credit cards for riders and debit cards for drivers and in-app wallets.
“Drivers in the US (and other countries soon after) can sign up for a no-fee debit card that is linked to an account provided by Green Dot, a financial technology and bank holding company headquartered in Pasadena, California. Uber is also offering drivers who sign up for the debit card cashback on gas starting at 3 percent and up to 6 percent for the highest tier of Uber Pro drivers,” says Andrew J. Hawkins in a report for The Verge.
“While Uber drivers and Uber Eats couriers previously had to wait for weekly payments or cash out their earnings by using Instant Pay, they will now have real-time access to their earnings through an Uber Debit Account,” reports an article published on My Broadband. “The company has also integrated this mobile bank account into the Uber Drive app,” which means that drivers will be able to keep track of their earnings and manage their money.
This wallet feature will also be available for riders within the Uber and Uber Eats applications, allowing them to keep track of their spending from within the apps.
Edited by Jenna Cook