Keep in mind this probably isn't costing Uber anything/much.
They get 5% commission anyway - the additional 5% they give in cashback comes out of their pocket so to speak.
Then if you spend it on taxis or uber eats (trains is a different story) which I imagine most will; then I think the commission uber charges on taxis & takeaways is not far off 50% (I note when I'm in a taxi on my regular journey that the fare is around £10 these days. I rarely see uber drivers getting fares offered for much more than £5 for similar journeys). I imagine most will spend more than the cashback value too; so really it is a very low cost marketing promotion for them, plus they have the huge benefit of being able to put the entire fare on their GMV on quarterly reports.
They get 5% commission anyway - the additional 5% they give in cashback comes out of their pocket so to speak.
Then if you spend it on taxis or uber eats (trains is a different story) which I imagine most will; then I think the commission uber charges on taxis & takeaways is not far off 50% (I note when I'm in a taxi on my regular journey that the fare is around £10 these days. I rarely see uber drivers getting fares offered for much more than £5 for similar journeys). I imagine most will spend more than the cashback value too; so really it is a very low cost marketing promotion for them, plus they have the huge benefit of being able to put the entire fare on their GMV on quarterly reports.