Uber Expands Global Partnership with Mastercard to Enhance Driver Payments, Fan Benefits

Uber Technologies Inc. (NYSE:UBER) is one of the best growth stocks to buy and hold for 3 years. On July 28, Mastercard Inc. (NYSE:MA) announced an extended partnership with Uber to enhance payment solutions for drivers, couriers, and Mastercard users globally. The collaboration will see Uber using a suite of Mastercard’s products and services, such as Mastercard Move for real-time disbursements, Mastercard One Credential for a streamlined payment experience, and Mastercard Gateway capabilities for collections and fraud prevention.

A key element of the partnership is the renewal and extension of the Uber Pro Card. Currently supported by Mastercard in the US and Canada, the Uber Pro Card will now be introduced to new regions, which include the UK. This card allows Uber drivers and couriers to receive instant and fee-free payments after each trip or delivery, along with benefits such as cash-back rewards on fuel purchases.

The Uber Pro Card will also integrate Mastercard One Credential, a single digitally connected credential designed to offer greater payment flexibility and control for earners. Furthermore, Uber’s global customer base will gain access to Mastercard’s consumer payment products and services, including its Offers Platform.

Uber Technologies Inc. (NYSE:UBER) develops and operates proprietary technology applications in the US, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through three segments: Mobility, Delivery, and Freight.

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Disclosure: None. This article is originally published at Insider Monkey.