Mastercard, Uber drive digital payment acceptance
As part of an initiative to boost digital payments and advance financial inclusion across the Middle East and Africa (MEA), Mastercard and Uber have extended their long-standing partnership.
This move builds on existing work between the organisations, says Mastercard, noting last year’s joint initiative with the ride-hailing firm to provide free trips and meals to those supporting communities in the MEA region.
In a statement, the global payments tech company says the partnership is intended to boost cashless payments, drive digital payment acceptance and reward loyalty, while supporting Uber’s continued social impact collaboration.
Furthermore, the partnership will enable Uber to drive digitisation across its business operations, leveraging Mastercard’s infrastructure to meet all types of payment needs across Uber Rides, Uber Eats, Uber Pass and Uber for business, reads the statement.
The companies say they aim to bridge the financial inclusion gap through a broad range of efforts.
Amnah Ajmal, executive vice-president of market development, Mastercard MEA, explains: “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 the digital economy in MEA.”
Uber MEA regional general manager Tino Waked adds: “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. Drivers’ well-being is a top priority and putting opportunities they want within reach is important to us.”
Last year, Uber SA launched Uber Pass, which will now be available across most cities in MEA, with Mastercard becoming a key distribution partner to help drive adoption.
Mastercard notes the work undertaken with Uber plays a key role in advancing its worldwide commitment to financial inclusion and the company’s pledge to bring a total of one billion people, 50 million micro and small businesses, and 25 million women entrepreneurs into the digital economy by 2025.