Could a ride-hailing giant be a threat to the digital banking world? Uber Money

Who thinks Peter Hazlehurst can pull this off? So Uber recently announced that they’ll be adding a new team to their company – Uber Money.

This new channel is now responsible for all things pertaining to financial products designed to support drivers…but their focus remains put on three sectors:

✅ Uber Debit Account & Uber Debit Card

✅ Uber Wallet

✅ Uber Credit Card

The idea is to synchronise these new features, allowing drivers to track their earnings in real-time and take advantage of cash-back options with Uber Debit.



Uber Wallet

Uber launches new brand “Uber Money” – Bank account for drivers, debit card, no-cost $100 overdrafts, credit card w/ 5% cashback on Uber services for riders

The wallet is the new home for your money on Uber. Easily track your earning and spending history, manage and move your money, and discover new financial products all in one place.

Drivers have access to cashback on petrol starting at 3% and up to 6% for the highest tier of Uber Pro drivers Card-holders will also be able to claim 5% back in Uber Cash from spending across the company’s platform, including rides, UberEat & JUMP.

Hazlehurst most likely saw the current market buzz around Apple Card as the perfect opportunity to re-launch their Barclays-backed credit card and debit offerings, backed by Green Dot  Could a ride-hailing giant be a threat to the digital banking world?

I wonder how @Apple will respond…

By Jack Consalvi


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