Ride hailing platform Uber announced a strategic partnership with digital payments solution company ItzCash Card Ltd in order to expand its customer base by offering the on-demand urban mobility experience to the under-served / under-banked segments across Chennai, Chandigarh and Nagpur. Uber launched the pilot program in these three cities wherein it will leverage many of ItzCash’s existing networks of retail touch points in these three cities to generate awareness and build deeper engagement.
Naveen Surya, Managing Director at ItzCash stated, “The Tier 2 and 3 cities and SEC B, C segments will make up the next 500 Mn consumers for the sharing economy. Uber has been at the forefront of the sharing economy revolution in India. As a company that pioneered on-demand financial inclusion through innovative instruments, we at ItzCash are excited to serve as the catalyst for helping Uber tap into this vast pool of consumers and make urban mobility smarter and affordable for all Indians.”
ItzCash is among the largest facilitators for travel business owing to its 75,000+ pan-India network of retail touch points. These touch points – called ItzCash World outlets regularly witnesses influx of thousands of customers for enquiries and facilitating transactions. The partnership allows Uber to further extend and integrate its on-demand platform to millions of new potential riders in the metros and T2-T4 towns and cities, going forward.
Amit Jain, President of Uber India said, “We are very excited about this partnership. ItzCash has an extensive retail presence and expertise in working with the under-banked segment. This partnership will go a long way in helping us engage with millions of underserved commuters as we expand into smaller cities in India.”
Towards making payments easier, Uber has introduced cash as a payment facility across all 22 cities in India. Additionally, Uber is planning to come up with its own mobile payment wallet in the country in line with its aims to have India as its second biggest market after the US. Presently, Uber users use Paytm wallet to pay for their trips. Recently, Uber also tied up with Airtel Money to facilitate payments through Airtel’s wallet. Recently, rival Ola acquired a minority stake in its wallet partner Zipcash Card Services.
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