Uber announced on Thursday that drivers in San Francisco may now avail of the Instant Pay option that will allow them to get their earnings at once.
Uber says in a statement that the company is committed to making their drivers reach their goals, no matter how big or small that may be. Making payments available instantly is one way to do just that.
"Because sometimes life happens," says Uber's general manager for the Bay Area, Wayne Ting. "And whether you're saving up for something big or hitting the road to pay an unexpected bill, Uber can help you reach those goals."
The Uber Debit Card
Part of the Instant Pay pilot program is giving drivers the choice of applying for an Uber debit card via GoBank.
The steps are quite easy and fast. First, drivers need to go to a GoBank branch and apply for the card, which Uber says will take just a few minutes. If the application has been approved, drivers will be able to receive the card after seven to 10 business days.
Once drivers get a hold of their debit cards, they can then cash out their earnings any time and at no minimum required deposits or transaction/overdraft costs. They can withdraw their money at more than 42,000 ATM outlets nationwide for free.
The Uber debit card may also be used to purchase goods in store.
Uber Driver Woes
At present, Uber drivers receive their earnings once every week. With this setup, drivers have no choice but to wait for their money for several days after the service has been rendered.
Not being able to have instant access to payments is something critics have been throwing at Uber and other app-based transportation services such as Lyft. Customers simply book a ride and use their credit card information to avail the service instantly. Drivers and companies, however, need to wait a little longer.
Such setup then makes ordinary taxi drivers have the advantage as they are able to get their payments right after dropping off their customers.
Uber understands that while some people drive for the company to get "extra cash," some do it for a living and to support their families. Getting payments at once is a critical issue for drivers thus they have raised concerns about the need to have the flexible payment-receiving options as well.
"Today's launch of Instant Pay is a result of valued feedback from our driver-partners," Uber's statement reads.
The company is now looking forward to encouraging more drivers to work for Uber via this Instant pay pilot program and other future features that aim to help drivers achieve their objectives.
