Uber Adds M-Pesa As A Payment Channel For Passengers
Uber and Safaricom (NSE: SCOM) have launched a partnership that will see riders across Kenya pay for trips through M-PESA. This follows…
Uber and Safaricom (NSE: SCOM) have launched a partnership that will see riders across Kenya pay for trips through M-PESA. This follows a collaboration with UberEats that allowed consumers to pay for deliveries through M-PESA and delivery people to also receive their earnings through M-PESA.
The collaboration is especially set to benefit drivers who lack bank accounts, with Uber’s data showing that about 20% of drivers on the platform do not have bank accounts and therefore lack the opportunity to fully leverage digital trips.
“Through the integration of M-PESA for trip payments, we are excited to bring the ease and convenience of mobile money to riders on our platform,” said Imran Manji, Head of East Africa, Uber. “We are pleased to have found a partner in Safaricom in order to take this significant step towards enhancing financial inclusion in the country.”
Kui Mbugua, General Manager UberEats, Kenya also commented, “We entered into this partnership with Safaricom in order to enhance the experience for delivery people and eaters on our platform through ease of access to earnings and providing a convenient mode of payment for deliveries, respectively.”
According to Safaricom’s results for the last financial year, the company processed 6.4 billion payments through M-PESA. Data from the Central Bank of Kenya shows the number of total card payments in the country was at 70 million for the same period making M-PESA the most preferred mode of cashless payments.
“This partnership with Uber will enable us to provide thousands of drivers and delivery people alongside millions of customers with a fully digital solution with faster, secure, affordable, and convenient payments through M-PESA. We maintain a strong commitment to working with partners such as Uber as they enable us to deliver more value and opportunities to our customers in line with our purpose to transform lives,” said Peter Ndegwa, CEO – of Safaricom.