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Uber Denies Reports That It Is Accepting Bitcoin Payments

newsbtc
newsbtc
4 years ago
2 mins read
Uber Denies Reports That It Is Accepting Bitcoin Payments

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Despite several reports claiming that Uber is already starting to accept bitcoin payments, the company firmly denied these updates. Uber clarified that it is not yet considering bitcoin payments integration even with its long-term plans.

These rumors started swirling after BrainTree, a payments processor company, mentioned that it would allow its merchants to accept bitcoin should they choose to do so. Just recently, a Reddit user shared an interaction with an Uber help desk representative that was misinterpreted to mean that the company was considering bitcoin integration.

Bitcoin Payments and Uber

The Reddit post sparked a lot of discussion, with most members of the community expressing support for the rumored integration. However, the enthusiasm faded quickly upon confirmation that Uber isn’t considering accepting bitcoin payments yet.

Uber has been known to be pretty transparent with its moves, both for its drivers and clients. The fact that the company hasn’t made any official statements regarding payments suggests that this option isn’t in the pipeline just yet.

However, many are still hopeful that the company, which has been known for making a disruption in transportation services in several parts of the globe, could still consider bitcoin as a payment option. Currently, the Uber app allows payments from credit or debit cards, as well as credits or referral codes.

Bitcoin enthusiasts also suggested that AirBnB, which has introduced new business models for the hotel and accommodations industry, could also consider accepting bitcoin payments.

Indeed bitcoin has been increasingly associated with newer developments in various industries, from Uber’s ride-sharing platform to AirBnB’s booking website. While both companies have confirmed that they aren’t likely to start accepting bitcoin anytime soon, there could still be a chance that this might be something that they could add to their list of services in the near future.

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Comments 1

  1. votingmachine says:
    10 years ago

    Bitcoin would not fit their payment process. You register a CC with Uber, and the payment is done invisibly. You get in an Uber car, and get out at your destination. You called Uber from your app, which activated your ID and CC access. The driver is an Uber driver within their network. The billing is well executed already. You have pre-authorized a payment, and once the amount is calculated, it is billed automatically. Uber requires a payment process, in the form of CC, to use the Uber app, as an Uber customer.

    Bitcoin requires a wallet-to-wallet transaction, which actually seems to slow the process down. I’m not sure how it could be done. I suppose you could escrow bitcoins. I suppose you could authorize a payment at the time you hail an Uber via the app.

    Uber works exceptionally well with a credit card payment. I can’t see any reason to add bitcoin, unless it would generate more business. It looks like it complicates their business process. Currently, it is relatively easy to download the app, and provide the CC info to become an Uber customer. Maybe it can be done, but it seems like they already have a very good system in place.

    Reply

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Comments 1

  1. votingmachine says:
    10 years ago

    Bitcoin would not fit their payment process. You register a CC with Uber, and the payment is done invisibly. You get in an Uber car, and get out at your destination. You called Uber from your app, which activated your ID and CC access. The driver is an Uber driver within their network. The billing is well executed already. You have pre-authorized a payment, and once the amount is calculated, it is billed automatically. Uber requires a payment process, in the form of CC, to use the Uber app, as an Uber customer.

    Bitcoin requires a wallet-to-wallet transaction, which actually seems to slow the process down. I’m not sure how it could be done. I suppose you could escrow bitcoins. I suppose you could authorize a payment at the time you hail an Uber via the app.

    Uber works exceptionally well with a credit card payment. I can’t see any reason to add bitcoin, unless it would generate more business. It looks like it complicates their business process. Currently, it is relatively easy to download the app, and provide the CC info to become an Uber customer. Maybe it can be done, but it seems like they already have a very good system in place.

    Reply

Leave a Reply Cancel reply

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

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