Industry News

Payments News » Its IPO Document Shows the Massive Extent of Uber’s Card Business

“The statement says 87% of Uber’s $49.8 billion in gross bookings last year were on credit or debit cards. That translates into $43.5 billion in card volume. Uber defines gross bookings as the total dollar value, including taxes, tolls and fees, of its ride-sharing, dockless bike and scooter rentals, Uber Eats restaurant deliveries, and freight services. Gross bookings rose 45% last year from 2017’s $34.4 billion, which in turn were 79% higher than 2016’s $19.2 billion. Uber customers usually book their services through Uber’s mobile app. San Francisco-based Uber says it paid $749 million in credit card processing fees in 2017, up 62% from $461 million in 2016.”

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *