Uber set to launch UPI-based financial services app ‘Uber Money’ in India by 2020

Uber Jaipur

Uber, a ride-hailing unicorn, has a good news for its users in India as the American giant company is reportedly, all set to launch its financial services ‘Uber Money’ in the country by 2020, reported Inc42.

The all-new Uber’s financial services will enable the company’s driving partners to get their capital benefits directly. For which Uber has introduced an instant-pay option to allow drivers to review their earnings after each ride. Moreover, the platform allows drivers to redeem cash according to their needs.

Recently, Uber clarified that it has no plans to turn down Uber Eats, its food delivery services in India.

For details: Uber clarifies no shutting down of Uber Eats services in India

Uber Technologies Inc. is an American multinational transportation network company (TNC) offering services that include peer-to-peer ridesharing, ride service hailing, food delivery, and a bicycle-sharing system.

The company is based out of San Francisco and has operations in 785 metropolitan areas worldwide. Its platforms can be accessed via its websites and mobile apps.

Furthermore, as per the recent report on the fintech sector, $6.97 billion was raised by 2707 Indian fintech startups across 453 deals from 2014-2018, with the maximum amount of $3.3 Bn coming in 2017.

In the segment of fintech startups, Uber Money works with the likes of Paytm, Google Pay, Amazon Pay, PhonePe and many more.

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