Looks like Uber drove out of food tech only to drive into fintech in India. On February 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.
This is the company’s first such commitment in the Asia-Pacific region and comes less than a month after Uber sold its food-delivery business in India to local rival Zomato to focus on its core ride-hailing offering.
“With millions of daily trips and food orders, and digital transactions taking place on the Uber platform globally, the role of the Uber Money team at Hyderabad is to ensure that the platform is safe, secure, compliant, scalable and seamless for the users and also innovate on new financial experiences for all our business lines,” said Naga Kasu, engineering director and Hyderabad site lead at Uber.
The Hyderabad team will work for Uber’s global markets, and there is no set timeline on when Uber Money will officially launch in India.