Uber pushes into financial services with the launch of Uber Money

Uber pushes into financial services with the launch of Uber Money

October 29, 2019 0 By mykenyancareers
uberpic - Uber pushes into financial services with the launch of Uber Money
the service will include features such as Uber Debit Account & Uber Debit Card for drivers and in-app wallet/COURTESY

NAIROBI, Kenya, Oct 29 – Global digital taxi company Uber has announced the launch of Uber Money, a platform aimed at providing financial services to both Uber drivers and riders. 

In a statement shared on the company’s website, Uber says the service will include features such as Uber Debit Account and Uber Debit Card and an in-app wallet which targets drivers.

The 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.

According to the company, the app is set to benefit drivers as it allows them have real-time access to their earnings through an Uber Debit Account.

“For drivers in the US, and expanding to more countries soon after, we are updating the no-monthly-fee Uber Debit Account, powered by Green Dot, to integrate seamlessly into the Uber Driver app. We also want to make every dollar earned on Uber go further, which is why the refreshed Uber Debit Card will launch with cash back on gas starting at 3 percent and up to 6 percent for the highest tier of Uber Pro drivers,” the company says.

Previously, Uber drivers and Uber Eats couriers had to wait for weekly payments or cash out their earnings by using Instant Pay.

“With Uber Wallet, earners and spenders will now be able to easily track their earning and spending history, manage and move their money, and discover new Uber financial products all in one place. The Uber Wallet will start rolling out in the Uber Driver app in the coming weeks and will soon start rolling out in the Uber and Uber Eats apps as well.”

The service will first be rolled out in the US, before being launched elsewhere.