Uber Launches New Driver Debit Card

https://finovate.com/uber-launches-new-driver-debit-card/
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  • Uber is launching a new debit card with tandem checking account.
  • The Uber Pro debit card is made available via partnerships with Mastercard, Marqeta, and Branch.
  • Uber Pro cardholders can receive up to 7% cashback on fuel purchases.

Uber’s latest attempt to attract more drivers to its platform comes in the form of a debit card with a tandem checking account. Late last week, the rideshare company announced the Uber Pro debit card.

The new debit card comes courtesy of partnerships with Mastercard, Marqeta, and Branch, a challenger bank that caters to gig economy workers and contractors. The card offers Uber drivers up to 7% cash back on gas purchases when they achieve Diamond status as an Uber Pro driver.

The Uber Pro card comes with a checking account powered by Branch, which will automatically deposit cardholders’ earnings into their account after every trip. Branch offers a unique take on earned wage access by enabling workers to access their paycheck as they earn it. The card currently has a wait list and will launch in the coming weeks.

This latest announcement comes three years after Uber originally introduced Uber Money, a debit card and mobile app powered by Green Dot, and five years after the company launched its Barclays-powered credit card.

The launch of the Uber Pro card comes alongside a handful of other driver-related announcements from the ridesharing company. The Uber app will now offer drivers a range of nearby trips to choose from, show drivers their exact earnings upfront before they accept a trip, and offer enhanced benefits to Uber Pro drivers.

These driver-focused benefits are in part an effort to smooth out the supply and demand issue that Uber is facing. The nationwide labor shortage, combined with high fuel prices, has historically made it difficult for Uber to attract drivers. In May, Uber CEO Dara Khosrowshahi said, “Our need to increase the number of drivers on the platform is nothing new nor is it a surprise … there’s a lot of work ahead of us, but this is a machine that is rolling.”


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https://finovate.com/uber-launches-new-driver-debit-card/