Uber Freight drivers get new payments and fuel rewards
- Uber Freight has introduced a new card to pay drivers faster and provide fuel rewards.
- The product was developed via partnerships with Branch and Marqeta.
As the U.S. faces extended disruptions in its supply chains and driver shortages, Uber Freight has launched a new solution to pay carriers significantly faster than the industry standard. Since launching in 2017, Uber Freight has over 70,000 carriers in its network and thousands of shippers as customers.
The problem: The traditional accounts payable process has carriers waiting 30 days or longer to get paid for a delivery. That puts a strain on cash flow for a small business that has upfront costs like fuel and vehicle upkeep. Plus, at a macro level, the driver population in the U.S. is aging — the current strain on the supply chain requires more drivers and better financial solutions for them to run their businesses.
The solution: Rather than waiting 30 days or longer for the traditional accounts payable process, carriers on Uber Freight can now get paid two hours after approved proof of delivery. The new payments products and rewards come via a partnership with Branch and Marqeta that was announced at last week’s Money 20/20 Conference.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account