Uber is creating a new division called Uber Money to handle its growing financial services business. The group will oversee everything from the company’s credit and debit card offerings, to digital wallets for riders, to products used by drivers to get paid in a timely manner.
To start out, Uber drivers will have an improved way to get the money they earn on rides instantly, the company says. Typically drivers either wait for weekly payments or cash out using a feature called Instant Pay.
Now, drivers and other freelance workers like Uber Eats couriers will have “real-time access to their earnings after every trip through the Uber Debit account,” the company says. This mobile bank account will mean that Uber’s 4-million-plus drivers…