The program is another indicator of employers providing more comprehensive financial services for lower-income employees.
“We wanted to help everybody
understand that there’s a new part of Uber that’s focused on financial services
and that has a mission of giving people access to the type of financial
services they were excluded from” stated Peter Hazelhurst, the head of the new
division.
There are currently over 900,000 active Uber
drivers in the United
States with many reportedly
often making less than minimum wage and experiencing difficulty covering the expenses
associated with driving and living.
Uber Money will offer what it calls Real-Time
Earnings to drivers: Instead of waiting for weekly payments, drivers and
couriers will have real-time access to their earnings after every trip through
their Uber Debit account.
The Uber Debit
Account for drivers has no-monthly-fee and integrates into the Uber Driver Wallet
– which allows drivers to track their earning and spending history, manage and
move their money in one place. In addition, the Uber Debit Card will be
offering a minimum of 3% cash back on gas and up to 6% for the for the highest
tier of drivers.
Uber Announcement
UBER
