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March 6, 2024

On the web

May 4, 2023

On the web

Uber Expands Partnership with Stripe to Enhance Payments Performance

IBS Intelligence

"Stripe, a financial infrastructure platform for businesses, has announced an expanded global partnership with Uber Technologies . Uber will significantly expand its use of Stripe’s payments platform, including in the US, to reduce costs and give customers more flexible ways to pay for Uber Rides and Uber Eats. It will use Link and Stripe Financial Connections to allow customers to add bank accounts securely and instantly without leaving the Uber app."

October 6, 2022

On the web

Uber Partners with Mastercard, Marqeta, and Branch to Launch New Uber Pro Card, Offering Faster Payments and Fuel Rewards for Drivers


“Uber drivers, couriers to get up to 10% cashback on gas; 12% on EV charging Uber today announced a new partnership with Mastercard, Marqeta, and Branch to power the Uber Pro Card, an enhanced loyalty and payments experience that will help drivers and couriers save on gas, fees, and other expenses. Built for drivers and couriers, the Uber Pro Card offers customized perks including up to 10% cashback on gas and up to 12% on EV charging.”

August 2, 2022

On the web

Uber Unveils New Features, Including One That Lets Drivers Choose the Trips They Want


“Uber announced a series of new features Friday aimed at enhancing driver experiences on the ridesharing app as drivers continue to contend with high gas prices and inflation rates. Drivers across the U.S. will be able to see exactly how much they’ll earn and where they’re going before they accept a trip. They’ll also be able to see more than one trip request at a time by using a new feature called Trip Radar. Uber said those changes will also help lower wait times for riders.   The company also announced the Uber Pro debit card and checking account, which offer drivers up to 7% cash back on gas at select stations. Drivers’ earnings will be deposited directly into the account.”

April 18, 2022

On the web

Uber Ties Up With Rakuten for Food-Delivery Payments in Japan


Uber Technologies Inc. will integrate Rakuten Group Inc. ’s payment services into its Uber Eats and later Uber mobility app in Japan, one of its key international markets. Rakuten, Japan’s homemade answer to Amazon.com Inc. , operates a broad range of e-commerce and fintech services and has a widely used Rakuten Points loyalty program. The integration with Uber Eats, which will roll out in stages by the end of this month, will allow Rakuten account holders to log in without a pre-existing Uber account and earn and spend their Rakuten Points or Rakuten Pay credit, the companies said Monday.”

April 6, 2022

On the web

Uber adds planes and trains to cars in renewed ‘super app’ push


“Uber plans to add long-distance travel bookings to its UK app this year, including intercity trains, coaches and flights, as chief executive Dara Khosrowshahi reboots the “super app” strategy he first outlined several years ago. The plan is to expand Uber’s ride-booking app into a one-stop shop for travel that could eventually include hotels. This is aimed at providing a “seamless door-to-door experience”, said Jamie Heywood, Uber’s regional general manager for UK, northern and eastern Europe. The UK, one of Uber’s biggest markets outside North America, will pilot the service before a wider rollout.”

August 11, 2020

On the wires

Shift4 Payments and Uber Eats Announce Partnership to Provide Integrated Online Ordering and Delivery Experience for Restaurants

“Shift4 Payments, the leader in integrated payment processing solutions, and Uber Eats today announced that the on-demand food delivery platform will be available through Shift4’s Marketplace, providing a seamless integration for Shift4’s restaurant clients. This partnership will enable a streamlined onboarding process and a fully integrated ordering experience for restaurants and consumers.”

July 6, 2020

On the web

Uber, Postmates Agree on $2.65 Billion All-Stock Deal


Uber Technologies Inc. has agreed to acquire Postmates Inc. in a $2.65 billion all-stock takeover expected to be announced as soon as Monday morning in the U.S., according to people familiar with the matter. Uber Eats head Pierre-Dimitri Gore-Coty is expected to continue to run Uber’s combined delivery business, according to a person who asked not to be identified discussing a private deal. Under their agreement, Postmates Chief Executive Officer Bastian Lehmann and his team will stay on to manage Postmates as a separate service, another person said.”

June 26, 2020

On the web

Uber Pares Back Digital Wallet Ambitions, Head of Unit Quits


Uber Technologies Inc. ’s financial services leader Peter Hazlehurst is calling it quits as the ride-hailing giant focuses on rides and food delivery, and ices plans to become a financial services company. In an email to staff on Thursday, Uber Chief Executive Officer Dara Khosrowshahi said that Uber will “deprioritize” several of its finance-related projects, which have included credit cards, a digital wallet and instant payments for drivers. Khosrowshahi wrote in the email to staff reviewed by Bloomberg that in light of the change in direction at the company, “I understand Peter’s decision to pursue something more aligned with his passion and initial ambitions.””

October 31, 2019

On the web

Investors Aren’t Moved by Uber’s Shift Into Banking


“The “pivot” to fintech has been a popular strategy among Asian tech and ride-hailing companies. India’s Ola made fintech a priority in 2015 after spinning out its payment service, Ola Money , into a standalone app. Indonesia’s Go-Jek started its Go-Pay service in 2016. “There is some precedence for success,” Bernstein analyst Harshita Rawat said of big tech platforms in Asia offering financial services. Companies like Uber know a lot about their workers, and can leverage that information to offer tailored loans and other services.”

October 28, 2019

On the web

Uber Announces Deeper Push Into Financial Services With Uber Money


“The company announced on Monday the formation of a new division called Uber Money to house its efforts, which include a digital wallet and upgraded debit and credit cards. The emphasis, at first, will be expanding Uber’s efforts to give its 4 million-plus drivers and couriers around the world access to a mobile bank account so they can get paid after each ride, according to Peter Hazlehurst, who will head the new division.”

September 9, 2019

On the web

Uber Has Surveyed Some Drivers on Small Loans, Suggesting Financial Products Are Coming


Back in June Uber went on a hiring spree in New York, hiring at least 100 fintech-oriented tech workers to ostensibly look at creating products to increase loyalty and engagement among users and drivers, including things like banking. Cue a flurry of speculation. It now looks like Uber is taking baby-steps towards building such a raft of products out, potentially by offering loans directly to drivers, according to a report from Recode/Vox .”

June 26, 2019

On the wires

Uber Eats Partners With Olo to Simplify Third-Party Delivery for Thousands of Restaurants


Uber Eats today announced it has partnered with Olo , the leading digital food ordering platform for the restaurant industry, to integrate directly into the point-of-sale (POS) of leading restaurant brands via Olo Rails. An important distinction for restaurant brands, this partnership allows orders placed by consumers on the Uber Eats website or app to be injected directly into the order stream at the restaurant, drastically improving order accuracy and operational efficiencies for restaurant operators.”

April 12, 2019

On the web

Its IPO Document Shows the Massive Extent of Uber’s Card Business

Digital Transactions

“The statement says 87% of Uber’s $49.8 billion in gross bookings last year were on credit or debit cards. That translates into $43.5 billion in card volume. Uber defines gross bookings as the total dollar value, including taxes, tolls and fees, of its ride-sharing, dockless bike and scooter rentals, Uber Eats restaurant deliveries, and freight services. Gross bookings rose 45% last year from 2017’s $34.4 billion, which in turn were 79% higher than 2016’s $19.2 billion. Uber customers usually book their services through Uber’s mobile app. San Francisco-based Uber says it paid $749 million in credit card processing fees in 2017, up 62% from $461 million in 2016.”

July 12, 2018

Top Post

Uber And Uber Eats Now Let You Split The Bill Using Venmo

Venture Beat

“A key factor in this latest partnership appears to be data suggesting Venmo was already a popular mechanism for sharing payments between multiple Uber riders. Someone would pay for an Uber ride through their account, as usual, and then request reimbursement from their friends through Venmo. According to the company, more than 6 million Venmo payments last year mentioned the word “Uber,” which offers some indication as to how popular this new payment integration should prove.”

July 3, 2018

On the web

Uber Cash Payments Could Soon Be Accepted In More Global Cities


“It’s one of the key players in edging us towards a cashless society – but Uber cash payments could soon be available in more cities across the world. The ride-hailing app, whose business model has always been to offer quick and cashless payments, already offers the service in 51 countries. Now, the Uber cash payments system could be made available in more locations, one of its employees said during a talk at the Women of Silicon Roundabout conference in London last week. Uber’s product designer Femke van Schoonhoven said: “We’ve launched ‘cash’ in 51 countries all over the world and we are continuing to grow into new markets.”

April 12, 2018

On the web

Moving Forward Together with Cities


“Since I started as CEO I’ve signaled very clearly that I am committed to being true partners to cities for the long term. This partnership will take many forms over time. As a start, today we’re excited to share a series of product updates that give riders more ways to get around without needing a car, and new ways we’re collaborating with cities.”

March 28, 2018

On the web

Uber seeks Dutch payments licence in drive to diversify

Sky News

“Sky News has learnt that Uber has applied to the Dutch central bank for an e-money licence that will enable it to streamline its payment processes across businesses such as its core ride-hailing app and its fast-growing UberEats food delivery venture. Sources said the attempt to become classified as an electronic money institution was being handled by a new subsidiary called Uber Payments BV.”

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