Uber Launches a Debit Card

The new UberCard will launch in Mexico through a partnership with MasterCard and Bankaool.

October 25, 2016

LONDON – Business Insider reports that Uber has partnered with MasterCard and online bank Bankaool to launch a debit card in Mexico.

The new UberCard will only be available in Mexico. “The move is aimed at getting more people to use Uber in Mexico, where some card providers do not let customers use their cards for e-commerce or online payments,” the news source reports, adding that UberCard can also be used anywhere in Mexico that accepts MasterCard, and not just for Uber rides.

"That means that users can pay for movie tickets, gas and groceries wherever payment terminals are present. More importantly, this is another step forward for mobile payments as well,” notes a press statement.That means that users can pay for movie tickets, gas and groceries wherever payment terminals are present. More importantly, this is another step forward for mobile payments as well,” notes a press statement.

Francisco Sordo, head of Uber for Mexico and Central America, says in an emailed statement to Business Insider: "We are very excited to be able to offer safe, reliable and affordable rides to more people with this new card, which will be available for all Mexicans."

The news source adds that the deal between Uber and a bank “makes a lot of sense” because Bankaool will benefit from Uber’s “huge reach and marketing spend” while also gaining many new customers. For Uber, the bank’s technology allows the ride-sharing company to reach a new market segment it hasn't been able to tap into.

“The fact that the cards are branded with Uber's logo also means that anyone who signs up is effectively carrying around an [advertisement] for the app in their wallet,” writes the news source.

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