Enjoy complimentary access to top ideas and insights — selected by our editors. Want unlimited access to top ideas and insights? Subscribe Now
Uber and Lyft are reportedly both working on credit cards, with Uber's likely to be in circulation by the fall.
Processing Content
Fox Business had more information on Uber's plans, reporting Barclaycard will be the issuer of a Visa-branded card. The card is expected to be co-branded, open, and usable for other kinds of purchases.
Uber's rival, Lyft, is also working on its own card, sources told Fox Business. While Uber has faced some controversy recently, it remains one of the most recognizable brands in the rapidly expanding "app economy" or mobile-driven businesses that rely on contract workers.
This growth is attracting collaboration with more traditional companies. American Express, for example, has scored with its marketing partnership with Uber.
A passenger holds an Apple Inc. iPhone displaying the Uber Technologies Inc. car service taxi application (app) journey progress screen in this arranged photograph in Budapest, Hungary, on Wednesday, July 13, 2016. Uber will suspend its ride-hailing services in Hungary from July 24 following a government decision to pass a bill that allows authorities to block access to the mobile application and fine media promoting it. Photographer: Akos Stiller/Bloomberg
John Adams is executive editor of payments for American Banker. John interviews top executives in the payments, cryptocurrency and fintech... Read full bio
The Federal Communications Commission proposed a $4.5 million fine against Voxbeam Telecommunications, which it accused of facilitating fraud scams. Many of the calls spoofed phone numbers belonging to American banks.
After French authorities stopped a bomb plot against a Bank of America office in Paris, security experts warned banks to step up their preparations for terror attacks.
