Uber Enters the Debit Card Market in Latin America
Uber, in partnership with Mexico’s first online bank Bankaool and Mastercard, announced the launch of Uber Bankaool Debit Card, which allows users to pay for rides using a mobile banking app.
The card, which has been available since October 21, is intended to help users who do not have a debit or credit card, and cannot use other ecommerce options, such as Apple Pay.
The debit card, which is linked to a Bankaool account, is not just good for Uber rides. It can be used at other venues as well.
“#YourUberCardforEverything (#TuTarjetaUberParaTodo) can be used to pay at movie theaters, stores or restaurants, as well as ecommerce and mobile apps that accept Mastercard, both in Mexico and internationally, and even to withdraw cash at ATMs,” said Juan Carlos Espinosa, Chief Digital Bank, Business Development and Marketing Officer.
The Uber Bankaool card also offers:
- New riders enjoy their first ride for free (up to MXN$100)
- Internet and mobile banking through Bankaool
- Free, unlimited interbank transfers
- Online access to account balances and statements
- Fee refunds each month on two ATM withdrawals
All Mexican consumers can qualify for a Uber Bankaool debit card, but must make a monthly deposit of up to MXN$15,000 ($800) to maintain their account. It will be coming to convenience stores in Mexico soon.