Uber partners with Mastercard and Payfare

Thursday 7 March 2024 10:17 CET | News

American ride-hailing company Uber has announced its collaboration with Mastercard and Payfare, aiming to launch the Uber Pro Card in Canada.

As part of this partnership, Uber intends to introduce the Uber Pro Card, offering free instant payouts after every delivery trip, as well as enhanced loyalty capabilities for drivers and delivery individuals on the platform in Canada. The features are enabled by Payfare’s digital banking app and platform.

American ride-hailing company Uber has announced its collaboration with Mastercard and Payfare, aiming to launch the Uber Pro Card.

Uber’s development strategy

Developed specifically to meet the requirements of drivers and delivery people, the Uber Pro Card provides exclusive cashback rewards supporting saving up to 4% in gas, up to 8% on electric vehicle charging, and other daily expenses. According to Uber’s officials, the company intends to assist drivers and delivery individuals with flexible options to access their earnings. By partnering with Mastercard and Payfare, Uber aims to launch a new solution that is set to enable additional capabilities through exclusive cashback rewards. Moreover, qualifying cardholders are also set to be eligible for the Backup Balance feature, allowing drivers and delivery individuals to access up to USD 50 when they need it.

Furthermore, representatives from Mastercard underlined that app-based workers have an integral part in the economy and they require improved and flexible financial products that meet their needs. Through this collaboration with Uber and Payfare, Mastercard aims to allow app-based workers to scale their business by offering them increased cash flow. The Uber Pro Card is set to be available via mobile wallets and allows simplified contactless payments so that workers can begin spending instantly. Additionally, the solution allows them to track earnings, transfer funds, earn rewards, and manage savings.

Payfare’s officials underscored that Uber is their company’s longest-tenured app-based platform partner and the current announcement expands the capabilities of their collaboration with the new Uber Pro Card in Canada. By providing free instant access to earnings and customised incentives for gig workers, the companies intend to support cardholders while also offering app-based platform partners increased engagement of drivers and delivery people. As detailed in the press release, the Uber Pro Card is a Mastercard Business Prepaid Card which can be leveraged at all Mastercard acceptance points, with the card also providing built-in tools and benefits to help workers improve cash management, keeping records, and safeguarding devices. This offers access to Mastercard Easy Savings, a rebate programme to reward small business owners when they spend, Easy Savings Specials, delivering offers for business essentials, and other benefits. The Uber Pro Card is separate from the Uber Plus Card, that delivery individuals can leverage for shopping and paying trips.

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Keywords: mobile payments, payments , partnership, cashback, cash management, gig economy
Categories: Payments & Commerce
Companies: Mastercard, Payfare, Uber
Countries: Canada
This article is part of category

Payments & Commerce






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