Uber and Mastercard boost financial inclusion in MEA
Tuesday, 04 13 2021, Category: Technology, Country: Middle East
In December 2020, Mastercard released its Economic Outlook 2021 report, which found, among other things, that the “e-conomy” has taken root globally.
Accelerated by the conditions of the pandemic, consumer preference for contactless payment methods, online shopping, and domestic market resurgence have drawn a line between pre-COVID and post-COVID finance.
The challenges posed by this new paradigm relate to boosting the digitalisation of payments and then making sure everyone has the capability to participate (financial inclusion).
Uber, which has been a partner of Mastercard for a number of years, will use the FSI’s single infrastructure to accommodate a broad range of payments needs in MEA, including Uber Rides and Uber for Business.
Previously, the two companies partnered to provide 120,000 free rides and meals to in-need communities. They have also provided a similar amount of support to cities, hospitals, and front-line workers.