Uber eyes move into banking and payments business

Uber is making a fintech push with a New York hiring spree — CNBC — “There are many possible payment and lending innovations Uber could come up with: It has 93 million active users globally, most of whom use linked credit cards or fund a wallet called Uber Cash to pay for rides and food delivery… Creating a bank account has been discussed at a high level at Uber but may be years away, or the company could decide against it.”



Didi Chuxing expands into financial services

Chinese ride-hailing giant Didi Chuxing enters financial services amid profit push — South China Morning Post — “The new offering, which Didi introduced on Wednesday, includes mutual protection and crowdfunding products for critical illnesses, credit and lending, wealth management and auto-financing services… Didi’s foray into financial services is part of its effort to build a ‘more connected ecosystem’ with reliable and competitive services, according to a company spokesman.”


Uber to let customers use Venmo to share costs with friends

Uber and Venmo partner to deliver a new payment experience — PayPal — “Uber customers in the United States ordering rides and food will soon be able to pay with their Venmo balance, linked bank account, credit card or debit card so they can easily split the cost with friends and family in the Venmo app, for no additional fee. Users can also share their purchases in their Venmo feed with custom emojis that are exclusive to the partnership, with Uber as the first company to have a branded emoji in the app.”


DART opens up its transit ticketing app to private transportation operators

Dallas transit embraces Uber, Lyft and other mobility options — GovTech.com — “Dallas transit riders can do much more than purchase bus or train tickets with the region’s GoPass app. Riders can now use it to book a ride with Uber or Lyft, and will soon be able to schedule other modes of getting around, such as renting a bike on one of the city’s five bike-share apps.”


Asian ride hailing giant Grab to let users pay for public transit with its app

Bid to enable public transit payments via GrabPay — The Straits Times — “In future, the Grab app will give commuters a range of options — from a direct point-to-point method, using taxis or private hire cars, or through multiple modes including transfers on shuttle buses, cars and public transport. ‘You pay everything in a seamless way — cashless — through GrabPay.”


Samsung partners with Grab for mobile payments in south-east Asia

Grab and Samsung sign MOU to drive digital inclusion in south-east Asia — Samsung — “Grab and Samsung will work together on a wide range of initiatives to bring the benefits of technology, such as enhanced customer experiences and improved income opportunities, to millions of consumers and Grab driver-partners across south-east Asia… The two companies will also work together to expand into south-east Asia’s fragmented mobile payments ecosystem and provide a mobile payments solution that will serve the needs of consumers in south-east Asia.”


Cargo turns Uber cars into convenience stores

How Cargo is helping Uber drivers earn extra cash by selling stuff to passengers — VentureBeat — “Cargo partners with brands across confectionery, electronics, cosmetics, and more to offer riders access to goods such as chocolate bars and USB cables. The company sends a transparent case to drivers, along with the goods, which they place in the vehicle’s front compartment, allowing passengers to see at a glance what’s on offer. The traveler can then make payment using PayPal, Apple Pay, Android Pay, or their credit card through Cargo’s mobile website, using a unique code to ensure payment goes to the right driver.”


Ride-hailing app Grab acquires mobile payments startup iKaaz

Grab announces acquisition of Bangalore-based payments startup iKaaz — Grab — “The rich functionality of iKaaz’ mobile payments platform and its experienced leadership team will accelerate feature development and partner integration of GrabPay, Grab’s payments platform. Already Southeast Asia’s #1 ride-hailing platform, Grab is expanding across all markets in Southeast Asia in 2018 with the goal of becoming the region’s universal payments platform.”


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