Uber Partners with Mastercard and Payfare to Launch the New Uber Pro Card in Canada

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Mar 05, 2024, 07:00 ET

Drivers and delivery people on Uber to get free, instant access to earnings; up to 4% cashback on gas, up to 8% cashback on EV charging, and other enhanced loyalty features

TORONTO and OAKLAND, Calif., March 5, 2024 /PRNewswire/ - Uber today announced a new partnership with Mastercard and Payfare to launch the Uber Pro Card, providing free instant payouts after every trip or delivery¹ and enhanced loyalty features for drivers and delivery people on the Uber platform in Canada, powered by Payfare's leading digital banking app and platform. Built specifically for the needs of drivers and delivery people, the Uber Pro Card offers exclusive cash back rewards helping to save up to 4% on gas², up to 8% on electric vehicle charging³, and other everyday expenses.

"At Uber, we look to support drivers and delivery people with flexible options to access their earnings," said Michael van Hemmen, General Manager of Mobility for Uber Canada. "Through our partnership with Mastercard and Payfare, the new Uber Pro Card will enable drivers and delivery people to make the most of their earnings through exclusive cashback rewards."

Qualifying cardholders will also be eligible for the Backup Balance⁴ feature, enabling drivers and delivery people to access up to $50 when they need it most.

"App-based workers, including drivers and delivery people on Uber, play an integral part in our economy and they require flexible financial products to meet their unique needs," said Balinder Ahluwalia, Senior Vice President Market Development, Mastercard in Canada. "Through this partnership with Uber and Payfare, we are enabling app-based workers to scale their business by providing them with cash flow when they need it most."

The Uber Pro Card will be available via mobile wallets and enables seamless contactless payments, so drivers and delivery people can begin spending immediately. They can track earnings, transfer funds, earn rewards, and manage savings all through the Uber Pro Card app.

"Uber is our longest tenured app-based platform partner and we are pleased to expand our partnership with the all new Uber Pro Card in Canada," said Marco Margiotta, CEO and Founding Partner of Payfare. "Free instant access to earnings and tailored incentives for gig workers help our cardholders every day while also benefiting our app-based platform partners with increased engagement of drivers and delivery people."

The Uber Pro Card is a Mastercard Business Prepaid Card which can be used at all Mastercard acceptance points, offering flexibility. The card also provides built-in tools and benefits to help drivers and delivery people better manage cash flow, keep records, and safeguard their devices. This includes access to Mastercard Easy Savings, a rebate program to reward small business owners when they spend, Easy Savings Specials, providing offers for business essentials, and other benefits. The Uber Pro Card is separate from the Uber Plus Card that delivery people can use for shop and pay trips.

For more information, visit: https://uber.payfare.com/ca

About Uber (NYSE: UBER)

Uber's mission is to create opportunity through movement. Co-founded by Calgarian entrepreneur Garrett Camp, Uber started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 10 billion trips later, Uber is building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber and Uber Eats open up the world to new possibilities. For more information, visit uber.com.

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
www.mastercard.com

About Payfare (TSX: PAY, OTCQX: PYFRF)

Payfare is a global financial technology company powering digital banking and instant payment solutions for today's gig workforce. Payfare partners with leading rideshare and delivery platforms and marketplaces to provide financial health for their workforce.

¹ Automatic payouts need to be enabled in the Driver app. Delays can happen due to technical issues and other reasons.

² Up to 4% cash back is available for drivers and delivery people with Diamond status who pay with the Uber Pro Card at the pump at stations in Canada or the United States. For cash back on gas, only payments made at the pump are eligible. Rewards subject to change without notice. Gas and public electric vehicle charging merchant classification is subject to Mastercard rules. Cash back rewards are earned for select purchases using your Uber Pro Card in Canada and become available as those purchases settle.

³ Base cash back benefit is between 1% and 4% for gas purchases and between 2% and 8% for public EV charging, depending on your Uber Pro status. Gas purchases and public EV charging must occur in Canada or the United States. Total cash back you can earn with the Uber Pro Card on refueling (gas or EV charging) is $100 per month.

⁴Backup Balance is only available to Uber Pro Card users with enabled automatic payouts after every trip and who have had $700 in earnings the previous month. Eligibility requirements for Backup Balance subject to change without notice. Terms and conditions apply.

SOURCE Payfare