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Uber inks its first mobile wallet deal in Southeast Asia

Seeking to upward push to greater pageant, Uber has inked its first bills deal in Southeast Asia after it introduced a partnership with Vietnam-based mobile wallet provider Momo.

Momo, which raised $28 million led by means of Standard Chartered final 12 months, will develop into a cost choice within the Uber app in Vietnam, along money and bank cards. The app is the rustic’s most sensible mobile cost provider. It is utilized by 5 million folks to pay expenses, delivery tickets and extra so an alignment with Uber is smart.

The rollout can be sluggish with an preliminary 30 % of Uber’s Android app customers getting the technique to pay by the use of Momo as of nowadays. That will prolong to all Android customers over the following month, with iOS — which trails Android considerably on marketshare in Vietnam — to come back later.

Uber mentioned Vietnam is one in every of its “fastest growing Asian markets” however it didn’t supply consumer figures. The deal is the first of its type for Uber in Southeast Asia, a area the place it has a difficult problem combating Singapore-based Grab in seven markets and native unicorn Go-Jek in Indonesia.

Uber has mobile wallet deal with Paytm in India, however that used to be struck again in 2014 because of regulatory necessities.

“We always looking for ways to make taking an Uber more seamless, but there is nothing to announce today,” Uber mentioned when requested whether or not it plans to hunt different partnerships throughout Southeast Asia.

Both Grab, which just lately raised $2 billion from SoftBank and China’s Didi, and Go-Jek have put a heavy focal point on mobile bills, with every development a mobile wallet provider of their very own that can ultimately transcend paying for ride-sharing to pay for different items.

Go-Jek, which is subsidized by means of Chinese web large Tencent, plans to spin out its Go-Pay provider right into a standalone app subsequent 12 months. Go-Pay can already be used for a spread of services and products past motorbikes and taxis on-demand. Go-Jek, which is valued at $three billion, has mentioned it’s going to extend its achieve outdoor of Indonesia the usage of Go-Pay, slightly than ride-sharing, as its preliminary release provider.

Grab, in the meantime, started running on its GrabPay platform final 12 months. Earlier this month, it introduced give a boost to for third-party traders in Singapore that permits its app to used to pay at side road meals supplier stalls. It plans to scale to one,000 traders by means of the tip of this 12 months and extend the initiative to different portions of the area in 2018.

The tie-in with Momo doesn’t see Uber cross to the lengths that its opponents have, however it does constitute a brand new means on looking for out offers and partnerships that the Uber would up to now no longer have thought to be.

In an interview previous this month, Uber’s head of Asia Brooks Entwistle informed TechCrunch that the company is prepared to paintings with governments or even taxi drivers to broaden its industry in Southeast Asia. Entwistle additionally hinted at partnerships with cost corporations, and mentioned that Uber is having a look into choices inside the on-demand motorcycle apartment area.

Featured Image: Photo by means of studioEAST/Getty Images/Getty Images

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