More and more folks are jumping aboard the ridesharing bandwagon, and it looks like with so many different services in which one will be able to sign up with, competition is stiff. Uber would like to make sure that their portion of active drivers remain happy by introducing a new program known as Instant Pay, enabling drivers to be able to access cash that they have earned instantly through a third-party mobile banking service known as GoBank.
The Instant Pay pilot will be available in select cities only for the moment, and this is not a new idea at all as Uber’s competitor Lyft, has already rolled out a similar service that is known as Express Pay. So far, 35% of Lyft’s driver base have made use of Express Pay, and to date Lyft has already paid out more than $100 million in driver fares via this particular service. The last 30 days alone saw Lyft’s drivers claim $40 million in earnings.
In order to enrol for Uber’s Instant Pay, drivers will first need to apply for a GoBank account, and all fares received will be deposited there, which can be withdrawn using a debit card through any one of GoBank’s 42,000 ATMs. Good to know that there is no minimum amount to be earned or extra fees to pay for such convenience, the only thing is, you might need to start a new bank account if you already have one elsewhere. Do you think having instant access to money without waiting for a certain time period will increase productivity?
Filed in . Read more about Uber. Source: recode.net