After carrying out a successful pilot project in Hyderabad, India, Uber is now expanding its cash-acceptance program to 10 more countries including all of Southeast Asia (minus Singapore and Malaysia), Kenya, Nigeria, parts of the Middle East and Peru.
This is only the beginning of this worldwide cash-acceptance program. In fact, since the launch of its first pilot in May 2016, Uber has identified the opportunity that cashMoney in physical form such as banknotes and coins. More payments have to offer in countries where the majority of the population is unbanked or without a credit card.
Rival online transportation networks such as Ola (India) and Grab (Southeast Asia) have long been accepting cash. Uber therefore has to adjust if it wants to remain competitive in this tight market. With this in mind, Uber has announced a plan to setup an R&D team in India to compete more closely with Ola.
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