Uber to launch a credit card

Thursday 26 October 2017 13:07 CET | News

Uber, in partnership with Barclays and Visa, has announced at Money 20/20 Las Vegas that it will launch a credit card. 

Consumers can apply for the card starting 2 November directly within the app or online. After a quick background check to assess the applicant’s creditworthiness, clients will receive a physical card in the mail. 

Introducing the Uber card 

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Besides giving Uber, which already has 10 million consumers, fresh data on consumer purchases, the card offers some significant perks to the end-user. The card offers a bonus of USD 100 after spending USD 500 on purchases within the first 90 days and offers a 4% cash back on restaurants, take-out and bar purchases; 3% back on airfare, hotels and Airbnb or other short-stay rentals; 2% back on online purchases; and 1% back on everything else.

Clients will also have USD 50 credit for online subscriptions (if they spend USD 5,000 on the card per-year), phone insurance of up to USD 600 if the card is used to pay the monthly phone bill.

What it means for Uber

The credit card could potentially open many data sources for the ride-sharing company, if it can convince clients to sign up. Uber was hit with several scandals in the past, including some related to privacy

The battle for consumer data is heating up. As personalization becomes a key driver in retail sales, more and more tech companies, retailers and big companies are investing resources in the hopes of getting a clearer picture of their customers. This, in the end, could be used to tailor products for specific individuals and improve the shopping experience. 

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Keywords: Uber, credit card, consumer data, ride sharing company, Money 20/20, Money 20/20 Las Vegas
Categories: Payments & Commerce | Cards
Countries: World
This article is part of category

Payments & Commerce