Chinese ride-hailing app Didi Chuxing has launched banking services for its drivers in Brazil and Mexico in a bid to further bolster its presence in Latin America.
The company will partner with financial institutions to offer debit card to its drivers in these two countries, reported Bloomberg.
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The card will enable them to receive payments from daily rides, withdraw cash and make purchases.
Mexican Didi riders can also update their e-wallet with cash through Oxxo, a chain of convenience stores in the country.
Didi international business technology division head Zheng Bu was quoted by the publication as saying: “In Brazil, for instance, there are many people who can drive but they’re not able to become Didi drivers mainly because they’re unbanked.
“So we went ahead and started to offer banking services to them.”
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By GlobalDataWith domestic business slowing down, the company has been working to drive its international expansion.
In Latin America, Didi Chuxing is set to face stiff competition from Uber Technologies, which also initiated steps to offer banking services to its drivers.
Earlier this month, Uber partnered with BBVA and Mastercard to launch a debit card in Mexico. The move is aimed at enabling drivers to open a BBVA bank account through the Uber app and make online transactions.
Headquartered in Beijing, Didi Chuxing was last valued at $56bn.
