Standard Chartered customers taken for an Uber ride
This time we have a genuine Uber moment in fintech. Standard Chartered and Uber are partnering to offer the bank’s credit cardholders cashbacks on Uber rides.
This is the “first ever multi-market partnership” for both of them. The deal is for six markets – Singapore, Indonesia, Malaysia, Vietnam, India and the United Arab Emirates – and offers up to 25% cashback for all global Uber rides.
Sebastian Arcuri, regional head, retail banking, ASEAN and South Asia, Standard Chartered, says there has been a “dramatic shift towards digital and cashless payments across the region” and that Uber has a transport network operating in more than 425 cities, which will “engage our clients for both their local and overseas transport needs”.
Collaborating with Uber is also part of Standard Chartered’s “digital agenda to deliver simple and convenient banking through digital channels for increasingly tech-savvy clients”.
The bank “believes that collaboration between the financial and technology sectors will lead the way forward”.
Err… yes… we call it fintech.