Global multinational ride-hailing company Uber is launching its Uber Cash digital wallet feature in Sub-Saharan Africa. According to Uber Africa, the digital wallet would be developed through a partnership with a Nigerian-based fintech firm Flutterwave.
The arrangement would enable riders to top up their Uber wallets using different forms of remittance gateway tools active on Flutterwave’s Pan-African network.
It is understood that Uber Cash will be launched this week and be available for Uber ride-hailing operations in Nigeria, Kenya, South Africa, Tanzania, Uganda, Ghana and Ivory Coast. According to Uber General manager for Sub-Saharan Africa, Alon Lits, riders would be able to top-up their Uber wallet based on the local payment methods in their individual countries.
Africa has one of the world’s largest unbanked populations and Uber still accepts cash in the continent but has made strides towards digitization with the inclusion of mobile money.
The introduction of Uber Cash is expected to increase Uber’s ride traffic in Africa by making it easier to process payments and enabling riders to pay faster and safer through Flutterwave payment merchants.
Uber is making a great effort to respond adequately to local competition from ride-hailing rival Bolt and some other companies that seem to be challenging the American company in the African market. This latest digital money initiative could prove vital for Uber.
Ripple Partner Flutterwave Continues with key partnerships
In October 2018, Flutterwave partnered with Ripple to use its blockchain technology to service payment flowing in and out of Africa. The Partnership made Nigeria the first African country to use Ripple blockchain technology.
Payment processing platform Flutterwave is expected to make huge gains via the latest deal, with the possibility of doubling the number of transactions on the platform.
Uber is arguably the biggest ride-hailing service in Africa with presence across many countries in sub-Saharan Africa.
With the partnership not limited to a particular country, the tech startup could witness massive growth if a large number of riders utilize the platforms to top-up their Uber Cash wallets. ‘
Furthermore, Uber Cash in Africa would also accept transfers from Flutterwave’s Barter payment app, launched with Visa in 2019.
Flutterwave operates as a B2B payments gateway network that allows clients to tap its APIs and customize payments applications.
Earlier, Flutterwave signed a deal with Binance cryptocurrency exchange to let users deposit the Nigerian Naira (NGN) on the exchange platform at zero fees. This gives users the possibility of buying cryptocurrency on the exchange directly with the Naira.
Ripple’s ODL Partner Collaborates Uber
Earlier, one of Ripple’s largest partner, MoneyGram signed a deal with Uber to let drivers and other workers of the multinational ride company enjoy cheap, fast, and seamless transaction while sending money home as the pandemic and world’s economic depression lasts.
The collaboration lets workers of Uber enjoy the cheaper service, sending money to more than 200 countries of the world.
