Uber CFO Nelson Chai said the ride sharing company's Uber Money initiative that was announced earlier this month is initially focused on helping its drivers get paid faster and lowering the costs of payments flowing through the company. 

Chai, who spoke during the Uber quarterly investor call, told analysts that the company is focused on enhancing the opportunities available to its drivers. The company has been under pressure globally about making working conditions better for its drivers, including new legislation in California that reclassifies gig workers as employees. 

"Many of our drivers were unbanked," he told analysts during the call. "And so by creating the Uber Wallet and allowing them the opportunity to have an Uber debit ... we're working on tools that allow them to get paid every day or after every trip."

More broadly, the company is looking at ways to help save on the cost of processing driver pay through its system and also providing some benefits for drivers that can leverage their buying power and help them save on gasoline, insurance and other costs. 

He confirmed that Uber is looking at efforts beyond that, but said it was too early to elaborate on future plans. 

CEO Dara Khosrowshahi told analysts that Uber is working with DoorDash and Lyft on a 2020 ballot initiative in California that focuses on an effort to allow gig workers to maintain their flexibility, but raises minimum standards like support for health subsidies and minimum earnings standards. 

Cover image: Uber.