Do you ever use Paypal to pay for things online?
You most likely have, even if you didn’t realize it.
Paypal is one of the most popular ways to pay for things online, but have you heard of the Eco app?
If you’re like most people, dealing with your finances is a big pain.
Between keeping track of bills, managing investments, and trying to save money, it’s easy to feel like you’re always behind.
And on top of all that, traditional financial institutions often take a big cut out of your earnings.
That’s where Eco comes in.
They’’re a new kind of financial company that puts you first.
Eco helps you pay your bills and put your financial life on autopilot, so you can focus on the things that matter to you, like ordering your favorite meal straight to your door after a long workday.
Below, we’ll take a look at what Eco is, how and why you can use it, and why it might be the best way to pay for your Uber or Doordash charges.
What is Eco?
In short, Eco is not a bank.
Instead, Eco is a new consumer fintech product that offers a unique way to manage your finances backed by Garrett Camp, the co-founder of Uber, and headquartered in San Francisco, CA.
The app provides a simple, intuitive interface that lets you see all of your financial information in one place.
You can use Eco to track your spending, see where your money is going and it provides high-yield savings.
Unlike a bank, Eco can help you save money because it doesn’t have upfront or hidden fees.
Plus, it kind of mimics institutions like PayPal or Venmo so you can navigate the platform with ease and manage your money as you normally would.
Eco also works with regulated financial partners to move and secure your money.
How Does Eco Work?
Eco works similarly to PayPal in that you’ll connect your Eco account to your bank account, which you can do once you create an account.
However, unlike PayPal, Eco is a digital cryptocurrency platform even if it may not seem like it.
Once you set up you bank account with you Eco account, you can navigate back to the home screen and tap on Total Balance.
From there, Tap Deposit, and select the account you just linked.
You’ll then be able to initiate a deposit and start spending your money through the Eco app as you see fit, whether that’s for food delivery, third-party delivery, paying a restaurant, or what have you.
Where Can You Use Eco?
Wondering where you can use the Eco app to pay?
The list of merchants is growing all the time as the non-bank grows traction, but there are already plenty of places where you can use it, including:
- Uber Eats
- Instacart (for grocery stores)
You should keep in mind, however, that Eco is still fairly new having been founded in 2018.
So, you can expect many more merchants to eventually jump on board and allow payments through Eco, especially as the cryptocurrency industry takes off.
How Do You Pay With Eco?
Paying for Uber eats or DoorDash with Eco is quick and easy.
Just follow these steps: from the app home screen, tap on Spend now with merchants.
Select the merchant you want to buy from, enter the amount you’re going to purchase, and tap Confirm.
Then, copy the redemption code and use it in the merchant app or at the merchant’s checkout page.
You’re all set to use Eco at any of their supported merchants, including DoorDash and Uber.
How Much Does Eco Cost?
Fortunately, Eco doesn’t cost you anything.
One of the key reasons for its development was to help consumers like you save money and keep it protected, which means not charging you any fees for usage.
Instead, you will fund Eco by connecting it to your existing bank account.
That way, you can use your money as you see fit without worrying about paying for the platform’s service.
Is it Worth it to Use Eco for Uber or DoorDash?
As a busy person or a fan of quick-service food, you might find yourself using a food delivery service like Uber or DoorDash frequently for a bite to eat.
Since each delivery app is an affiliated merchant with Eco, you can use the Eco app to pay for your food and it might be worth it too.
For instance, sometimes inputting your bank account information directly online or on an app might leave it vulnerable for theft or fraud.
Instead, Eco offers a safer solution.
Plus, you won’t have to worry about interest on the charges if you order a lot because Eco doesn’t charge interest on purchases.
Ultimately, it might be worth it to use Eco for Uber Eats or Doordash if you find yourself using the food delivery apps so often that your interest charges on your standard bank card increase your typical costs and you want to cut back.
Eco Uber DoorDash Final Thoughts
The Eco App is a good way to pay for your Uber and Doordash expenses because it’s not a bank, meaning you don’t have to worry about extra fees coming from your charges or in general.
The app lets you hook up your bank account to make payments to affiliated merchants as you see fit.
While its list of merchants isn’t extensive now, you can get essentials from the likes of Amazon, Instacart, Uber, and DoorDash.
Plus, as the non-banking platform grows in popularity and gains traction with new merchants, you might expect it to be more widely available in the coming future.
Since there is no cost to you to create an Eco account, you might find the best way to come to a decision about whether or not Eco is worth it by downloading and trying it for yourself.