Uber Reversed Out Of Food Tech And Drove Straight Into Fintech

On Feb.11, the company said it has set up a team of over 100 technology professionals at its Hyderabad tech centre, for Uber Money. The team will work on financial products and technologies including real-time earnings and debit and credit cards for Uber drivers, as well as Uber Wallet and credit cards for riders.

Uber could even tap into its 10% stake in Zomato. “Uber has lost critical time in the India market and is significantly delayed but if Zomato also agrees, for strategic reasons, to use Uber Money it will be a major boom for them,” Sanchit Vir Gogia, founder and CEO of Greyhound Research, told Quartz. Especially if Zomato and Uber work out an in-app integration like the food-tech giant has with Paytm.

[Quartz]


Analyst:

Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.

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