Uber is launching a new division of its business, called Uber Money, with the initial focus on providing its 4 million drivers and couriers with mobile bank accounts. Uber Money will also offer a digital wallet, debit and credit cards, as well as the possibility in the future of hosting bank accounts for consumers on its platform. The ride-share giant hopes to build a system that could remove “financial middlemen [and] generate new revenue streams,” for customers and drivers alike, per CNBC.
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