Mastercard and Uber extend partnership to boost payment digitalisation and financial inclusion 

Mastercard and Uber have reaffirmed their long-term partnership by implementing a new strategic initiative that will focus on digital payments and advancing financial inclusion in the Middle East and Africa (MEA).

Mastercard will facilitate financial inclusion and digital payments in ints partnership with Uber

Amnah Ajmal, Executive Vice President Market Development, Mastercard, MEA explains that the partnership will enable both companies to bridge the financial inclusion gap through a range of mechanisms. 

“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.”

What does the partnership mean?

By partnering, Uber will be able to drive digitisation across its business operations by leveraging Mastercard’s single infrastructure to meet all types of payment needs across Uber Rides, Uber Eats, Uber Pass, and Uber for Business.

The partnership and new strategic initiative aim to bolster cashless payments, increase digital payment acceptance, provide loyalty rewards and positively contribute to Uber’s social impact collaboration. Such products include Uber Pass, an offering introduced in South Africa and will be available across most cities in the Middle East and Africa during the course of this year. 

Tino Waked, Regional General Manager, Middle East & Africa Uber comments on the partnership. 

“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.”

Read more: SA digital bank secures three-million customers
Read more: Local tech startup AURA expands globally

Featured image: Stock Catalog via Flickr