Mastercard, Uber renews partnership to boost payment digitalisation and financial inclusion in MEA Region

Mastercard, Uber renews partnership to boost payment digitalisation and financial inclusion in MEA Region

Mastercard and Uber have renewed 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).

Through this partnership, Uber will be able to drive digitization across its business operations by leveraging Mastercard’s single infrastructure to meet all payment needs across Uber Rides, Uber Eats, Uber Pass, and Uber for Business.

This partnership aims to boost 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.

Amnah Ajmal, Executive Vice President Market Development, Mastercard, MEA explains that this new partnership is part of Uber’s mission to build a more connected world by enabling secure and fast movement of money for individuals in the gig economy, which is a pivotal step in supporting 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.”

Commenting on the partnership, Tino Waked, the Regional Manager of Uber, MEA 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 across MEA. Driver’s well-being is a top priority and putting opportunities they want within reach is important to us.”

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 Middle East and Africa, 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.

This new collaboration with Uber plays a key role in advancing Mastercard’s worldwide commitment to financial inclusion and the company’s pledge to bring a total of 1 billion people, 50 million micro and small businesses, and 25 million women entrepreneurs into the digital economy by 2025.