Uber to Accept Bitcoin Payments

uber-accepting-bitcoin-july-2015The ride-sharing service that allows part-time taxi drivers to make a buck and (often) riders to save time and money has confirmed that they are “currently making Bitcoin work with Uber as of now.”

The confirmation comes in the form of a response from an Uber support representative to a customer who asked to pay in bitcoins. CCN is working to get further statement from the company.

Also read: Despite Denial, Uber Users Complaining of Hacked Accounts

The question of how payment for the drivers would work must certainly be the one that’s hardest for the company to answer. As it stands, drivers are paid out from the settlement of credit card payments that are distributed to Uber. The value of those dollars paid from credit cards does not change substantially between the time that Uber receives them and the drivers receive them, which is the challenge that transacting in Bitcoin could present for a company like Uber.

Uber has seen massive success around the world since its launch in 2009; success which has been met with a fair number of roadblocks, such as the recent protests in France. However, Uber’s acceptance of Bitcoin payments could be the first interaction with Bitcoin that many will have.