Introducing Uber Money: Digital Wallet Will Boost Financial Services

More and more entities are jumping in the crypto wagon these days, due to a massive sense of FOMO.

It’s been just reported that one day, Uber may offer bank accounts.

This is the message from the giant which announced its new division called Uber Money at Money 20/20 in Las Vegas at the beginning of this week.

Uber Money to offer financial services to 4million drivers

The company said that Uber Money would be focused on offering financial services to 4million drivers and couriers all over the globe.

The main aim is to build an ecosystem that will be able to reach people who are underserved.

Uber’s head of payments Peter Hazlehurst will lead the new division and he said that Uber Money is set to offer real-time earnings via a digital wallet and upgraded debit and credit cards.

It’s been also highlighted the fact that unlike a blockchain-based cryptocurrency wallet, Uber’s digital wallet is a mobile bank account for instant cash.

Uber Money will basically appeal to mobile consumers who are moving money, data, messages, images, and value instantly via the smartphone.

During a new interview with CNBC, Hazlehurst said the following:

“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.”

Uber Wallets

It’s been also reported that Uber Wallets give anyone in the Uber ecosystem the opportunity to store dollars and make electronic payments.

The official announcement reveals the following:

“With Uber Wallet, earners and spenders will now be able to easily track their earning and spending history, manage and move their money, and discover new Uber financial products all in one place.”

Head over to the announcement cited by the online publication the Daily Hodl in order to find out the complete details.


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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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