Driving services like Uber have become an integral part of our day-to-day life as we depend more on such platforms to drive us around Cairo. With that dependency, we have noticed that there is an issue hindering drivers from accepting some requests, especially those who are being paid via credit cards and not in cash. Just think of how many times an Uber driver had to cancel a request because of your payment method leaving you stranded on a street corner.
To solve this issue, HSBC has teamed up with Uber to introduce a new solution: Flexpay. This is a new digital payment solution that permits on-demand cash-outs into mobile wallets. As a result, unbanked Uber drivers will have the ability to access 100% of their earnings through HSBC’s payment solution.
The drive to continuously find innovative solutions is what enables two entities like HSBC and Uber to team up and integrate tech-based solutions that will cater to local needs. The application will also save around five percent of drivers’ earnings while providing a direct and cost-effective way to receive these earnings while increasing their liquidity too…and you no longer stranded on street corners.
Anabel Diaz, Uber Vice President, and Regional General Manager for the Mobility Business in Europe, the Middle East, and Africa said, “the firm is working towards providing more financially inclusive solutions for drivers on the platform, to support them during these challenging economic times.”
With their innovative approach, Flexpay will offer salvation for drivers as they easily collect their earnings while never having to cancel a request that is going to be paid via credit cards.