WASHINGTON, Sept 13 — Payment processor PayPal announced on Tuesday that it has extended its multi-year relationship with ride-hailing company Uber Technologies, reported dpa news agency.
Under the agreement terms, PayPal and Uber will continue to build on global card payment processing that is powered by PayPal Braintree. Uber will continue using the PayPal Braintree platform in addition to conventional card processing.
According to PayPal, the partnership will allow Uber to expand its use of local debit routing networks in several markets, including the United States.
Uber can also leverage PayPal value-added services including PayPal Payouts in creating a seamless experience for customers of Uber.
“The PayPal Braintree platform has been a focal point of the relationship, processing Uber’s payments in nearly 200 countries and 50 currencies, enabling Uber to scale globally with limited complexity,” PayPal said in a statement.
Additionally, Uber will extend its use of payouts with PayPal Hyperwallet, launch combined incentives including UberOne, partner with PayPal on advanced customer authentication to secure transactions.
PayPal and Uber have been working together since 2012.
— Bernama-dpa
