Uber has announced that it will expand its long-term relationship with Mastercard in order to accelerate payment digitization and financial inclusion in the Middle East and Africa (MEA).
Uber will be able to accelerate digitization through their business activities, such as Uber Drives, Uber Eats, Uber Pass, and Uber for Business, by leveraging Mastercard’s single infrastructure to meet all forms of payment needs, and unlock payment options for drivers and additional benefits for passengers, thanks to this regional first and largest alliance for Uber across MEA.
The partnership is expected to increase cashless payments, accelerate digital payment adoption, reward loyalty, and help Uber’s ongoing social impact collaboration.
According to Mastercard’s Economy 2021 study, COVID-19’s economic effect has resulted in permanent shifts in digital customer buying patterns, the development of online banking, fintech disruption, and opportunities to increase financial inclusion.
Both businesses will be able to close the financial inclusion divide through a variety of activities as a result of the collaboration.
“Mastercard continues to partner with digital players across the value chain to create a more connected world,” Amnah Ajmal, Executive Vice President Business Growth, Mastercard, MEA, says of this development. As we support economic recovery efforts, facilitating stable, immediate money movement for individuals in the gig economy employees and customers is particularly critical. We are facilitating the company’s long-term business growth through improved operating efficiencies, driving greater financial inclusion and innovation across the country, and ultimately boosting the growth of the digital economy in MEA through our growing partnership.”
Uber launched an Uber Pass product in South Africa last year, which is now available in most cities across MEA, with Mastercard as a main distribution partner to help drive adoption.
“This is our biggest collaboration across MEA, and we are proud to be working together to offer key financial solutions to driver-partners across MEA,” says Tino Waked, Regional General Manager, Middle East & Africa. The protection of our drivers is a top priority, and we want to make sure they have access to the opportunities they want.”
This new collaboration builds on previous partnerships between the two organizations.
Last year, Mastercard and Uber partnered on a joint campaign to offer 120,000 free trips and meals to those who help communities in the Middle East and Africa.
Mastercard’s work with Uber is helping to advance the company’s global commitment to financial inclusion, including its goal of bringing 1 billion individuals, 50 million micro and small enterprises, and 25 million women entrepreneurs into the digital economy by 2025.
Although vaccines are now available, communities still need different forms of assistance. Mastercard and Uber want to help people all over the world get through these difficult times, and they’re ready to help communities.
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