• Home
  • News
  • Uber Introduces “Uber Money”
Image

Uber Introduces “Uber Money”

Ride hailing giant Uber is moving deeper into financial services with the unveil of a new division, Uber Money.

The Uber Money team has been charged with delivering new financial products and technologies, including a mobile bank account, digital wallet and upgraded credit and debit cards.

The first product out of the hatch will provide Uber drivers and couriers with real-time access to their earnings after every trip through the Uber Debit account, which will be run in association with Green Dot.

The refreshed Uber Debit Card will launch with cash back on gas starting at 3% and up to 6% for the highest tier of Uber Pro drivers.

Initially being introduced to drivers in the US, the company plans to export the system globally over the coming months.

In tandem with the new account, Uber will also push out a digital wallet, through which users track their earning and spending history, manage and move their money, and discover new Uber financial products.

The firm is also relaunching the Uber Credit Card, in partnership with Barclays, offering five percent back in Uber Cash from spending across the Uber platform.

The loss-making firm is taking a leaf out of the playbook from competing ride hailing apps in Asia, such as Grab and Gojek, which have successfully developed new revenue streams by branching out into financial services.

Related Posts

Stanbic Bank and CADFund Forge Strategic Partnership to Drive Economic Growth

Stanbic Bank Ghana, led by CEO Mr. Kwamina Asomaning, met with a delegation from the China-Africa Development Fund…

Ghana Launches BOSAG to Boost Business Process Outsourcing Sector

In a significant development for Ghana’s business process outsourcing (BPO) industry, the German Cooperation, Ghana Investment Promotion Centre…

Stanbic Bank Partners MTN to Equip Youth with Digital Skills

Stanbic Bank Ghana, through its Youth Banking Proposition, has reaffirmed its commitment to preparing the country’s youthful population…

MTN Ghana Celebrates 15 Years of MoMo

MTN Ghana marked the 15th anniversary of its mobile money service, MTN MoMo, with a celebration at the…

Leave a Reply

Your email address will not be published. Required fields are marked *