Uber Enters the Debit Card Market in Latin America

Uber Enters the Debit Card Market in Latin America

November 7, 2016         Written By Lynn Oldshue

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.



The information contained within this article was accurate as of November 7, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


lynn-oldshue

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue
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