AFP 2018 Pinnacle Winner: Uber Technologies
Nov 6, 2018
Uber's David Tao, Treasury Manager, and David Watt, CTP, Treasury Director, discuss their Instant Pay solution, which won the AFP 2018 Pinnacle Grand Prize. The Pinnacle Grand Prize, sponsored by Mitsubishi UFJ Financial Group, was presented at the Opening General Session of AFP 2018.
Uber Technologies’ submission focused on enhancing payments for its drivers. Uber, which previously paid drivers once a week via ACH, introduced Instant Pay, a daily, on-demand payments process via debit card. The new system actually pays drivers before riders’ funds are deposited—a decision by the company to place drivers above the bottom line.
Uber Technologies beat out two other Pinnacle finalists—BMC Software and OpenText. These three organizations were selected as the Pinnacle finalists because their innovative solutions helped their treasury and finance operations run more effectively.