Uber told drivers this week about loans that it’s building a new financial product and asked them. Experts are worried maybe it’s a loan that is payday that’s predatory.
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Uber can be considering money that is lending to motorists, according to a current study it delivered down to a number of its fleet. Drew Angerer/Getty Images
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Uber is apparently examining the choice of straight offering lending products to its motorists.
The ride-hailing giant sent an in-app message for some motorists this week saying it is “building an innovative new monetary item” to aid Uber motorists with regards to funds “in an occasion of need,” and asked recipients to fill away a study.
“Have you taken away a little loan (of a buck quantity below 1,000 USD) in past times 36 months?” reads certainly one of four concerns. Another asks: “If Uber supplied loans, just 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 solutions is not exactly new — the organization piloted an interest-free advance loan system for motorists in Ca and Michigan back 2016. In addition it presently delivers a credit that is co-branded with Visa as well as an Uber money electronic wallet for cyclists, and assists rent vehicles to motorists through third-party partnerships. Continue reading
