From CityAM:
Can Uber graduate from taxi rank to taxi bank after announcing its move into financial services?
YES, says Andrew Mitchell, vice president at JCB.
Uber’s drivers are its bedrock. And growing driver service and revenue options without earth-shattering outlays is shrewd indeed.
As such, Uber Money is a logical step to maximise its digital-lifestyle standing among its driver base.
With experienced shareholders and sophisticated account-based app services, Uber already has key ingredients to be that taxi bank for its drivers via its increased control of banking rails and provision of instant fund availability. Additionally, by going all-in for digital cards and wallets, Uber will increase its consumer loyalty and revenue-generation from riders.....MORE
NO, says Jim Prior is global chief executive of WPP brand agency Superunion.
Uber Money is the latest in a string of moves by Uber that attempts to embed the brand in every element of the lives of consumers.....
