THE Uber had a huge loss of $ 5.2 billion last quarter and has been looking for other ways to make money. A likely candidate: offering financial services to users, including loans. The company hired dozens of employees with experience in fintechs and conducted a survey in the USA among its drivers.
In a survey conducted through the app, Uber asks U.S. drivers: “Have you taken out a small loan (in dollars below $ 1,000) in the past 3 years?” Another question says: “if Uber provided loans, what amount would you probably ask for?”
According to the CNBC, Uber made a wave of hires in New York this year, with the goal of creating a team of more than 100 employees to create financial products.
Uber prepares “new financial product experiences”
Uber released on LinkedIn the vacancy for an engineering manager who will be responsible for “designing and implementing new end-to-end financial product experiences for the Consumer and Supply bases within applications for passengers, drivers, Eats and restaurants”.
Uber’s goal is to create new payment experiences to increase loyalty of passengers and Eats users; as well as helping drivers to “manage and use the money they earn effectively and efficiently”.
One source tells the CNBC that Uber is even considering offering a bank account, a possibility that would have been discussed among top executives at the company, but that “may take years” or not materialize.
Uber already offers some financial products: we have the Uber Cash digital wallet, for example, which allows you to add balance to earn up to 5% discount on travel. This exists even in Brazil; the value can also be used for delivery of Eats.