On Monday, Uber Technologies Inc. (NYSE:UBER) disclosed the expansion of its global partnership with Adyen N.V. (OTC:ADYEY).
This collaboration, which began in 2012, aims to enhance Uber’s payment systems in over 70 countries, supporting its growth and innovation in mobility and delivery services.
- UBER shares are holding firm. Track it now here.
Why Uber’s Partnership With Adyen Matters
The expanded partnership is expected to leverage Adyen’s payment platform to offer more alternative payment methods, fostering Uber’s international growth.
This includes new territories like the United Arab Emirates, Hong Kong, and the Caribbean, as well as local acquisitions in Japan, Mexico, New Zealand, and Australia.
“The expansion of our partnership with Uber underscores a shared commitment to achieving global scale together,” said Trevor Nies, SVP Global Head of Digital at Adyen.
This collaboration will help Uber integrate new payment methods and support new business lines, such as Uber kiosks.
How New Kiosks Will Transform Travel Experience
The new Uber kiosks, introduced at LaGuardia Airport, offer a phone-free way for travelers to book rides, especially beneficial for those without a local data plan.
These kiosks will soon be available at hotels, ports, and international airports, enhancing the travel experience.
According to Karl Hébert, Vice President of Global Commerce at Uber, “A reliable and innovative payment platform is a fundamental requirement for Uber’s global growth. Continuing and expanding our partnership with Adyen is key to that.”
Key Markets Driving Uber’s Payment Innovations
Uber’s adoption of high-growth local payment methods like Pix in Brazil, AfterPay in Australia, and WeChat Pay globally highlights its commitment to improving payment experiences for its users.
This strategic move aims to serve travelers using Uber through various platforms, including the WeChat mini app.
Uber and Adyen’s ongoing collaboration will focus on payment innovations and new business lines, ensuring that Uber remains at the forefront of mobility and delivery services worldwide.
Earnings Snapshot
Last week, Uber reported a 20% year-over-year (Y/Y) revenue growth to $14.37 billion, surpassing the analyst consensus estimate of $14.32 billion. Uber reported adjusted EPS of 71 cents, which missed the analyst consensus estimate of 80 cents.
UBER Price Action: Uber Technologies shares were down 0.16% at $74.65 during premarket trading on Monday, according to Benzinga Pro data.
Image Via Shutterstock
Recent Comments