In an announcement, the company said it's partnering with Capital One to extend reward benefits to their mutual customers. The program will reward users with a ride worth up to $15 for free after they take nine Uber rides paid with a Capital One Quicksilver or QuicksilverOne card through March 2017.
The reward program is initially being rolled out for U.S. cardholders only. However, it will eventually also include other payment companies, according to TechCrunch.
Uber's partnership with Capital One is its latest attempt at establishing a loyalty and rewards program for attracting more ridership. It comes at a time when the company is increasingly seeing more competition from Lyft and other ride-hailing services. In May, the company rolled out Uber Offers, which gave Uber riders $5 to $20 in rebates when they shopped at participating stores. The offer was followed by a pilot test in Los Angeles in which Uber awarded points to its riders, which could then be redeemed for a free ride.
Earlier this year, the San Francisco-based company also joined Visa's Commerce Network, which provides the interface for merchants to extend rewards for spending at partner stores.
In a pilot test, Visa explained, Boston-based Uber riders received discounted rides when they used their Visa card at their local Shake Shack. At the end of the campaign, it was observed that Shake Shack benefited from new customer acquisition rates in the double digits and higher customer spend levels, while Uber riders saw the offer rewards seamlessly credited to their Visa cards.