Mastercard and Uber extend partnership to boost growth of digital economy in MEA

By Pavithra R

Mastercard and Uber has announced extending their long-standing partnership with a new strategic initiative focusing on digital payments and advancing financial inclusions, facilitated by Mastercard across the Middle East and Africa (MEA).

The collaboration will enable Uber to drive digitization 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 will boost cashless payments, drive digital payment acceptance, reward loyalty, while supporting Uber’s continued social impact collaboration.

“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 digital economy in MEA,” said Amnah Ajmal, Executive Vice President Market Development, Mastercard, MEA.

Through the partnership, both companies can bridge the financial inclusion gap through a broad range of efforts. The alliance builds on the existing work between the 2 organizations. The work undertaken with Uber plays a critical role in advancing Mastercard’s commitment to financial inclusion and the company’s pledge to bring a total of 1 bn people, 50 mn MSMBs, and 25 mn women entrepreneurs into the digital economy by 2025.

“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,” said Tino Waked, Regional General Manager, Middle East & Africa, Uber.