Uber launches Uber Money
Uber has moved deeper into the financial services industry with the launch of its new Uber Money division .
The Uber Money team will be tasked with delivering new financial products and technologies, including a mobile bank account, digital wallet and upgraded credit and debit cards.
Uber said that the new service will work on “financial products and technologies that deliver additional value for the Uber community, all at Uber speed.”
Uber Money’s first product will provide Uber drivers and couriers with real-time access to their earnings after every trip through the Uber Debit account.
The Uber Debit account will be run in collaboration with Green Dot.
Uber has said that it also wants 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% and up to 6% for the highest tier of Uber Pro drivers.
The new service will be introduced initially in the USA with plans to make the system accessible worldwide over the coming months.
Uber Money will also launch hits Uber Wallet service with will allow earners and spenders 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.
Uber is also relaunching the Uber Credit Card, in partnership with Barclays. Cardmembers will now receive 5% back in Uber Cash from spending across the Uber platform, including Uber Rides, Uber Eats, and JUMP bikes and scooters.