Also Uber, a company known to date to develop innovative systems dedicated to transporting people and goods, has decided to expand its business to financial services. For this reason the call division was created Uber Money which, unlike other Tech company initiatives like Facebook or Telegram, will not focus on implementing a cryptocurrency.
Money plans to offer the company's collaborators (and in particular drivers and riders) functionalities that allow the payments received to be managed simply and immediately, even before the credits are received. The idea should be to activate a sort of current account through which to monitor in revenue streams.
Added to this are two different types of payment cards, a credit and a debit card and both issued by the circuit Visa. The latter will allow access to a cashback program open to both employees and users, the former will receive compensation of up to 6% on fuel costs, the latter can recover up to 5% on what is paid for the rides.
Another interesting novelty concerns the availability of an electronic wallet, Uber Wallet, which can be used by both workers and customers. This feature was designed to be integrated directly into the official Uber application that can also be used to track all money movements related to the work of the company.
Money is only one of the emblematic interventions of the new course inaugurated in August 2017 by Dara Khosrowshahi (former CEO of Expedia), a manager who, having to manage the legacy of the conflicted management, Kalanich has decided to extend the company's interests and investments in sectors other than ride sharing.