Sunday 18 April 2021

Mastercard announces extension of Uber partnership deal

DUBAI, 11 days ago

Long-standing partners Mastercard and Uber have extended their partnership in bid to boost advance financial inclusion across the Middle East and Africa. 
Uber partnership continues to grow with a new strategic initiative focusing on digital payments and advancing financial inclusions which will be facilitated by Mastercard across the region.
As a regional first, the partnership with Mastercard will enable Uber to drive digitization across their business operations, leveraging Mastercard’s single infrastructure to meet all types of payment needs for Uber Rides and Uber for Business. 
It is intended that the partnership will boost cashless payments, drive digital payment acceptance, reward loyalty, while supporting Uber’s continued social impact collaboration.
The Economy 2021 report released by Mastercard notes 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.
Mastercard Executive VP (Market Development) for MEA Amnah Ajmal said: "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," he stated.
Uber Regional General Manager (MEA) Abdellatif Waked said: "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 ibn the region. Driver’s well-being is a top priority and putting opportunities they want within reach is important to us."
Waked said 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 MEA, which was facilitated through Uber. This strategic partnership between Mastercard and Uber spans across the region and through key partnerships, supported cities, hospitals, front line workers and marginalized communities with free rides and meals," he added.-TradeArabia News Service


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