Uber is partnering with fintech EBANX to enable Brazilian customers without credit cards or bank accounts to pay for the ride-hailing services using their preferred local payment method. Customers can now top up their Uber Cash balance via boleto bancário, a voucher-based payment system popular among Brazilians, or through a bank transfer. EBANX Pagamentos Ltda. will process the payments across the country.
“Offering boleto and bank transfers as payment options on Uber empowers financially underserved populations to access Uber and pay conveniently and securely. This includes consumers who don’t have a credit card and often don’t even have a bank account,” said João Del Valle, co-founder and COO of EBANX.
“Our partnership with Uber leverages innovative technological solutions to promote financial and digital inclusion, perfectly aligned with EBANX’s vision of increasing access to the digital economy.”
The partnership expands the range of payment options on Uber for all consumers in a market where cash-based boleto payments remain popular. “More and more digital apps in Latin America are operating an e-wallet, allowing users more choice and flexibility in how they pay. More payment options lead to a better experience,” adds Del Valle.
Boleto transactions are similar to that of wire transfers or other cash payment methods. Customers are provided with a payment slip issued by a bank and given the option of printing it and paying it physically — at branches, ATMs or, occasionally, at authorized processors such as lottery agencies and post offices — or electronically through internet banking.
“All of our products are designed and built based on how Brazilians and other Latin Americans interact with the digital economy in everyday life. Our close collaboration and partnership with Uber in Brazil and other countries across the region, is confirmation that we are on the right track,” said Lenny Crotty, VP of North America and Global Partnerships at EBANX.