Uber with Bitcoin Now Possible: Here’s How

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.

Payment by Bitcoin Builder

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. 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 in India that do not own credit cards or bank accounts to pay for the service in another way.

“India needs this service terribly,” Read more ... source: Cointelegraph