[UPDATE: It appears that Uber has suspended Bitcoin Builder’s account and thus, the service is no longer operational.]
US-based bitcoin exchange platform Bitcoin Builder has announced their release of a bitcoin service that enables users to pay with bitcoin for Uber rides.
How it Works
Bitcoin Builder created a business account on the Uber network, which allows the firm to display itself as a payment method on the Uber mobile app.
Users are required to use the Bitcoin Builder multi-sig wallet to associate it with the firm’s Uber business account. After the activation, users will see Bitcoin Builder as a payment option on the “SELECT PAYMENT” section of the Uber mobile application.
The service works everywhere Uber works, even in countries like India, where credit card penetration is below 2%. According to a report published by The Hindu Business Line, the number of credit cards stood at 21 million by 2014-15. Currently, Uber does not accept debit cards in the country. Uber India takes Paytm, a centralized payment network in India for its local users. But now, Bitcoin Builder’s bitcoin-to-Uber service will give many