Uber told drivers this week about loans that it’s building a new financial product and asked them. Critics are worried maybe it’s a cash advance system that’s predatory.
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Uber can be considering money that is lending to motorists, centered on a recently available study it sent off to several of its fleet. Drew Angerer/Getty Images
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Uber is apparently examining the option of straight offering loans that are financial its motorists.
The ride-hailing giant delivered an in-app message for some motorists this week saying it is “building a fresh economic item” to simply help Uber drivers along with their finances “in an occasion of need,” and asked recipients to fill away a study.
“Have you taken away a loan that is smallof a buck quantity below 1,000 USD) in past times three years?” reads certainly one of four concerns. Another asks: “If Uber supplied loans, just what quantity have you been most expected to request?” (The choices to respond to range in brackets of “Less than $100,” “Between $100 and $250,” “Between $250 and $500,” and “More than $500.”)
Uber providing economic services is not exactly new — the organization piloted a cash that is interest-free program for motorists in Ca and Michigan back 2016. In addition presently provides a co-branded charge card with Visa plus an Uber money electronic wallet for cyclists, and assists rent vehicles to drivers through third-party partnerships. (more…)It appears to be like Uber is engaging in the loan that is small because of its drivers