Mastercard Expands Cashless Payment Functionality for Uber MEA

Mastercard has introduced a new initiative focusing on digital payments and advancing financial inclusions for Uber across the Middle East and Africa (MEA).

As a regional first, the partnership with Mastercard will enable Uber to drive digitisation across their 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 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 continues to partner with digital players across the value chain to build a more connected world,” says Amnah Ajmal, Executive VP Market Development of Mastercard.

“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.”

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.

“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,” adds Tino Waked, Regional GM of Middle East & Africa.