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Uber eyes move into banking and payments business

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13 Rider
 Posted 3 months, 1 week ago

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I don't know if this is a good idea. People will have a false sense of security that they can pay back a loan but what if they can't? 

Uber is making a fintech push with a New York hiring spree — CNBC — “There are many possible payment and lending innovations Uber could come up with: It has 93 million active users globally, most of whom use linked credit cards or fund a wallet called Uber Cash to pay for rides and food delivery… Creating a bank account has been discussed at a high level at Uber but may be years away, or the company could decide against it.”  By Sarah Clark


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    731 Rider Guru
     3 months ago

    This seems like a really weird move for Uber on first glance. But then you think about a company like Amazon, which is a retail company, but makes more money selling cloud computing products than selling retail items. The retail side of the business required very innovative tooling, which Amazon was then able to sell on its own.

    Uber handles a lot of payments per day and surely has developed some interesting infrastructure to handle it. Maybe Uber Bank will be the new AWS...