Uber sets up "Uber Money" division focused on financial services

Uber has set up a new division, Uber Money, that will house its financial services products for riders and drivers, such as digital wallets and debit and credit cards.

Why it matters: While Uber and rival Lyft have already provided some standalone services like letting drivers cash out their earnings instantly and a credit card for riders, other ride-hailing companies around the world, like Grab and Gojek, have long offered fuller suites of services.

Go deeper: Uber rides into grocery delivery