Uber and Lyft Look to Hail Credit-Card Deals

Ride-sharing rivals Uber Technologies Inc. and Lyft Inc. may soon take their fight to your wallet.

Uber is rolling out a credit card for its U.S. customers, choosing Barclaycard, a unit of Barclays, as the issuer, the companies said Friday. The card will be available in the fall, according to a Barclaycard spokeswoman.

Visa is expected to be the network for the card, according to a person familiar with the deal.

San Francisco-based Uber would be the first major ride-sharing company to launch a credit card. It could help the firm lock in more customer relationships, a crucial goal as it faces an invigorated Lyft, which recently raised fresh funds and has been expanding into new U.S. markets. Lyft is also working on rolling out a credit card, according to people familiar with their plans.

Uber, meanwhile, has been grappling with a series of scandals, including charges it tolerated chauvinism, a lawsuit over trade secrets and a depleted executive suite. It is nearing a decision on a new chief executive after the surprise resignation of co-founder Travis Kalanick in June.

Ride-sharing is a relatively new sector in the credit card market, where partnerships with banks in the travel sector have been mostly dominated by airlines and hotels.

Continue Reading Below

“This partnership represents a unique opportunity for Barclaycard to work with a globally-recognized disrupter,” Barclaycard said.

Read the full article at the Original Source..

Back to Top