Uber One subscribers will receive 6 per cent cashback on eligible rides, said a report by TechCrunch.
According to the report, Uber is dropping the 5 per cent discount offered to subscribers. One can use the ‘Uber Cash’ reward while using Uber and Uber Eats, the report added.
Uber launched the subscription service in 2021 for $9.99 per month or $99.99 annually. According to Uber’s full-year earnings report, Uber One memberships grew twofold in 2022 to roughly 12 million members. While Uber can increase its profit margins by switching to a cashback offer, it also faces the possibility of losing customers who are in it for the discounts.
Uber added that the other benefits like free delivery and a 10 per cent offer on eligible Uber Eats orders will remain.
The company shut down its free loyalty program last year which allowed riders to earn points for every dollar spent on rides or deliveries. The ride-hailing company is launching “Uber Green” in June by introducing more electric vehicles.
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