Ride hailing company Uber plans to set up a 100-member global fintech team in Hyderabad, the first such in the Asia-Pacific region.
The Uber Money global financial services and products team is already present in San Francisco, Palo Alto, New York and Amsterdam.
The Hyderabad-based team will work on global features and improvements, including real-time earnings, updated debit accounts and debit cards for drivers, along with a wallet and credit card offering for riders, the company said in a statement.
“Besides engineering, we are investing in growing and scaling data science, analytics, and product management organizations to transform Hyderabad into a full spectrum tech site for Uber,” said Naga Kasu, Engineering Director and Hyderabad Site Lead, Uber.
Uber, though, has not yet launched Uber Money in India. In October, the cab aggregator said it would launch Uber Money, a program focused on financial services like payments and banking, in the United States.
Around the same time, Uber CEO Dara Khosrowshahi reiterated his commitment to double down on long-term growth at the company’s Hyderabad and Bangalore tech centres. These teams work on technologies including front-end, full-stack, mobile, machine learning, and data engineering.
According to a report by Moneycontrol.com, Uber Money is preparing to launch in India this summer and will base it on the popular Unified Payments Interface, the payments railroad used by leading players such as Google Pay.
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