Uber and Mastercard have extended their partnership with a new strategic initiative focusing on digital payments and advancing financial inclusions.
The initiative will be facilitated by Mastercard across the Middle East and Africa (MEA).
The partnership with Mastercard will enable Uber to drive digitisation across its business operations, leveraging Mastercard’s single infrastructure to meet all types of payments needs across Uber Rides, Uber Eats, Uber Pass, and Uber for Business.
It is intended that the partnership would boost cashless payments, drive digital payment acceptance, reward loyalty, while supporting Uber’s continued social impact collaboration.
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released by Mastercard noted that the economic impact of COVID-19 has introduced permanent changes in digital consumer spending habits, growth of online banking, fintech disruption and opportunities to boost financial inclusion.
Through the partnership, both companies can bridge the financial inclusion gap through a broad range of efforts.
Executive Vice President Market Development, Mastercard, MEA, Amnah Ajmal, explained: “Mastercard continues to partner with digital players across the value chain to build a more connected world. Enabling secure, immediate movement of money for individuals in the gig economy workers and customers is especially vital as we support economic recovery efforts.
“Through our growing partnership, we are enabling the company’s long-term business growth as a result of improved operational efficiencies, driving greater financial inclusion and innovation across the region, and ultimately boosting the growth of digital economy in MEA.”
Last year, Uber in South Africa launched a product called Uber Pass, which will now be available across most cities in MEA, with Mastercard becoming a key distribution partner to help drive adoption.
Tino Waked, Regional General Manager, Middle East & Africa, “This is the largest partnership for us across MEA, and we are proud to be working together to bring key financial solutions to driver-partners across MEA. Driver’s well-being is a top priority and putting opportunities they want within reach is important to us.”
This new partnership builds on existing work between the two organizations. In a joint initiative last year, Mastercard committed 120,000 free trips and meals to those supporting communities across the Middle East and Africa, which was facilitated through Uber.