Uber enters into Strategic Partnership with ItzCash to Bring Smarter Urban Mobility

Uber, the on-demand mobility platform that is transforming how commuters move around, has announced a strategic partnership with ItzCash Card Ltd., India's leading digital payments solution company. The partnership with ItzCash will further allow Uber 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.

ItzCash is among the largest facilitators for Travel business owing to its 75,000+ pan-India network of retail touchpoints. These touchpoints – called ItzCash World outlets regularly witnesses influx of thousands of customers for enquiries and facilitating transactions. As part of this pilot, Uber will leverage many of ItzCash's existing network of retail touchpoints in these three cities to generate awareness and build deeper engagement. 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.

"The Tier 2 and 3 cities and SEC B, C segments will make up the next 500 million consumers for the sharing economy," said Mr Naveen Surya, Managing Director at ItzCash. "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."

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 underbanked 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."

Source : Equity Bulls

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