O Uber Money was officially announced on Monday (28): this is a team that will be responsible for financial products, including the virtual wallet Uber Wallet, a digital account for drivers, and an API called Uber Pay. You even have a credit and debit card with cashback in the USA; in the future, the company will also be able to offer loans to partners.
THE Uber Wallet will be released to drivers in the coming weeks, within the Uber Driver app. It will also arrive later this year for Eats deliverers and for users in general, such as passengers and delivery customers.
With this digital wallet, drivers and couriers will have real-time access to the money received after each trip. You’ll be able to “easily track your earnings and spend history, manage and move your money, and discover new Uber financial products in one place”, explains the company.
Yes, Uber plans to launch “New financial products”. She did a survey in the U.S. through the driver app, asking if partners had taken out loans and were interested in doing so. And according to CNBC, the company hired several New York employees who specialize in finance.
Uber has Visa debit and credit cards
Uber Wallet will integrate with a digital account currently available to US drivers; it will be expanded “to more countries soon”. This account will be linked to a cashback debit card: users will earn 3% back on fuel costs; the percentage goes up to 6% when accumulating points in the Uber Pro benefits program.
In addition, Uber is relaunching a credit card for consumers in the USA, in partnership with Barclays bank. It offers 5% cashback for all expenses within the platform, including travel by car, delivery by Eats, bike and scooter rides by Jump, and helicopter flights by Uber Copter.
Finally, we have the Uber Pay: this is an API for third parties to integrate their means of payment with the Uber app. Companies will also be able to convert loyalty points into credit to spend via Uber Cash.
Uber is trying to make money in other ways after a record loss of more than $ 5 billion.