UPI-Based Uber Money To Launch In India By 2020

UPI-Based Uber Money To Launch In India By 2020

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UPI-Based Uber Money To Launch In India By 2020

Uber Money in India will enable UPI payments

India will be one of the first six countries where Uber Money will be launched in the next 6-8 months

Uber Money, the company’s driving partners will get their financial benefits directly. As part of the initiative, the company has introduced an instant-pay option to allow drivers to review their earnings after each ride. Moreover, the platform allows drivers to redeem cash according to their needs.

In India, Uber is reportedly planning to look into a unified payments interface (UPI). Since UPI transfers are much more preferred in India than in the US, rolling the feature out in the country should not be a problem for the company. The report also suggests that many features of Uber Money were built in India.

Uber Money will allow drivers and Uber Eats couriers to have real-time access to their earnings after every trip through the Uber Debit account, instead of waiting for weekly payments or cashing out through Instant Pay, which is what happens currently.

For drivers in the US, Uber will launch a Uber debit account and Uber debit card. “We are updating the no-monthly-fee Uber Debit Account, powered by Green Dot, to integrate seamlessly into the Uber Driver app. We also want 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,” wrote Peter Hazlehurst, Head of Uber Money.

The Uber Wallet 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. According to the company, 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.

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