Uber launching debit card program for drivers in Mexico

Uber Technologies Inc is partnering with bank BBVA and payments processor Mastercard to launch a debit card for drivers in Mexico, an Uber executive said on Tuesday, the company’s latest gambit to promote banking in a country that runs on cash.

The launch marks the first time that Uber has offered such a card outside of the United States, Ranero said. The debit card will be rolled out in six cities, including Mexico City, Tijuana, Monterrey, Puebla, Merida and Guadalajara, and will eventually be extended to the rest of Mexico.Drivers will not pay any commissions for use of the card, said Carlos Lopez-Moctezuma, head of open banking at BBVA.

Uber already acts as a hook to lure people into the financial system, Ranero said. Uber drivers must have a bank account to receive their earnings, and about 35 per cent of the company’s workforce in Mexico opened an account expressly for that purpose, he said.

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